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1) XYZ Corporation prepares six checks a day for the average amount of $2,400 each. These checks usually clear bank 5 days after they are written. Additionally, firm generally receives and deposits checks amounting to $18,700 each day. All deposits are available in 1 day.

a) Determine the firm's collection float?

b) Determine the firm's disbursement float?

c) Determine the firm's net float?

2) XYZ Corporation prepares twenty checks a day for the average amount of $990 each. These checks usually clear the bank in four days. Additionally, firm usually receives the average of $120,000 a day in checks which are deposited immediately. Deposited funds are available in 1.5 days. What is the firm's net float?

3) ABC Corporation bought $10,000 worth of inventory. Terms of sale were 2/10, net 30. Determine the:

a) Periodic rate?

b) APR?

c) Effective rate?

Basic Finance, Finance

  • Category:- Basic Finance
  • Reference No.:- M914662

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