a) Mira has RM72,909 on deposit with no outstanding cheques or uncleared deposits. If Miradeposit a cheque for RM111,230, does this create a disbursement float or a collection float? Whatis Mira's available balance? What is Mira's book balance?

Disbursement float refers to the time period between when a payment is initiated by a company and…

Answered: Mira has RM72,909 on deposit with no…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Mira has RM72,909 on deposit with no outstanding cheques or uncleared deposits. If Mira deposit a cheque for RM111,230, does this create a disbursement float or a collection float? What is Mira's available balance? What is Mira's book balance?