If 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? (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.

Given: The data is given as below,

Answered: Wednesda y

Business

Accounting

Wednesda y

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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Question

If 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?

(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
Borrowed
P 1,000 Monday
Day Paid
Days
Outstanding
t
Anna
Wednesda 3
1,000 Tuesday
1,000 Wednesday
Bob
Thursday
Friday
3
Charle
1,000 Thursday
1,000 Friday
1,000 Saturday
1,000 Sunday
Doug
Saturday
Sunday
Monday
Tuesday
3
Ellen
3
Fred
3
Georg
3
e
If you did not lend them the money, you could have invested the amount in marketable securities which gives 5% interest.

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