You have $37,200 on deposit with no outstanding checks or uncleared deposits. On

Question

You have $37,200 on deposit with no outstanding checks or uncleared deposits. One day you write a check for $7,100 and then deposit a check for $3,900. (Enter your answer as directed, but do not round intermediate calculations.)

What are your disbursement, collection, and net floats? (Negative amounts should be indicated by a minus sign.)

You have $37,200 on deposit with no outstanding checks or uncleared deposits. One day you write a check for $7,100 and then deposit a check for $3,900. (Enter your answer as directed, but do not round intermediate calculations.)

Explanation / Answer

Your disbursement float is the amount of the check you wrote, or $7100

The collection float is the amount of the check deposited, or –$3900

The net float is the sum of the disbursement float and collection float, or=7100-3900=3200

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