In a typical month, the Pier Corporation receives 100 checks totaling $96,000. These are delayed five days on average. Assume 30 days in a month. What is the average daily float? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) Average daily float

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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4. Find the average daily float
In a typical month, the Pier Corporation receives 100 checks totaling $96,000. These are
delayed five days on average. Assume 30 days in a month. What is the average daily
float? (Do not round intermediate calculations and round your answer to the nearest
whole number, e.g., 32.)
Average daily float
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Transcribed Image Text:In a typical month, the Pier Corporation receives 100 checks totaling $96,000. These are delayed five days on average. Assume 30 days in a month. What is the average daily float? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) Average daily float < Prev be here to search
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