(C) Receivables and Cash: Understanding Collection FloatYour seven friends often go to you when they are out of cash. The following is the usual trend:Amoun DayBorrowedP 1,000 MondayDay PaidDaysOutstandingtAnnaWednesda 31,000 Tuesday1,000 WednesdayBobThursdayFriday3Charle1,000 Thursday1,000 Friday1,000 Saturday1,000 SundayDougSaturdaySundayMondayTuesday3Ellen3Fred3Georg3eIf you did not lend them the money, you could have invested the amount in marketable securities which gives 5% interest.11. How much in total do they owe you on Mondays?12. How much in total do they owe you on Tuesday?13. How much in total do they owe you on Wednesday?14. How much would extra cash throughout the year would you have if you did not lend them any amount?15. How much would you earn if you invested the cash instead of lending them to your friends?

11. On Mondays, the friends who owe me the money are Fred, George and Anna. Each of them owes me…

C) Receivables and Cash: Understanding Collection Float Your seven friends often go to you when they are out of cash. The following is the usual trend: Amoun Day Paid Day Borrowed P 1,000 Monday Days Outstanding 3 t Anna Wednesda 1,000 Tuesday 1,000 Wednesday Bob Thursday Friday 3. Charle 1,000 Thursday 1,000 Friday 1,000 Saturday 1,000 Sunday Doug Ellen Saturday Sunday 3 Fred Monday 3 Georg Tuesday 3 If you did not lend them the money, you could have invested the amount in marketable securities which gives 5% inte interest. 11. How much in total do they owe you on Mondays? 12. How much in total do they owe you on Tuesday? 13. How much in total do they owe you on Wednesday? 14. How much would extra cash throughout the year would you have if you did not lend them any amount? 15. How much would you earn if you invested the cash instead of lending them to your friends?

C) Receivables and Cash: Understanding Collection Float Your seven friends often go to you when they are out of cash. The following is the usual trend: Amoun Day Paid Day Borrowed P 1,000 Monday Days Outstanding 3 t Anna Wednesda 1,000 Tuesday 1,000 Wednesday Bob Thursday Friday 3. Charle 1,000 Thursday 1,000 Friday 1,000 Saturday 1,000 Sunday Doug Ellen Saturday Sunday 3 Fred Monday 3 Georg Tuesday 3 If you did not lend them the money, you could have invested the amount in marketable securities which gives 5% inte interest. 11. How much in total do they owe you on Mondays? 12. How much in total do they owe you on Tuesday? 13. How much in total do they owe you on Wednesday? 14. How much would extra cash throughout the year would you have if you did not lend them any amount? 15. How much would you earn if you invested the cash instead of lending them to your friends?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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