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  3. assume the daily cash receipt of a firm is $60,000

Assume the daily cash receipt of a firm is $60,000. On average, it takes two...

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Accounting

Assume the daily cash receipt of a firm is $60,000. On average, it takes two days for the firm to receive checks from mail, another day to deposit and a yet another day for the bank to make the funds available. What is the collection float? $240,000 $180,000 $300,000 $120,000

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