Problemyou have 13400 on deposit with no outstanding checks, Ask an Expert

Accounting

Problem:

You have $13,400 on deposit with no outstanding checks or uncleared deposits. Assume you deposit a check for $5,000. (Enter your answer as directed, but do not round intermediate calculations.)

Required:

Question 1: Does this create a disbursement float or a collection float?

Question 2: What is your available balance?

Question 3: What is your book balance?

Note: Please show guided help with steps and answer.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91167722

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