x \\ ^ Welcome l Flashlne M FIN-36053003-201780 × x y D Chapter 17 Course Schedu

Question

x ^ Welcome l Flashlne M FIN-36053003-201780 × x y D Chapter 17 Course Schedule . MCK x C | ezto.mhed tpx?-0.2697377473501471 1510865390161 connect. ter 17 Question 2 (or 10) 10.00 points You have $13,700 on deposit with no outstanding checks or uncleared deposits Assume you deposit a check for $5,300 Does this create a disbursement float or a collection foat? (Cick to select) What is your available balance? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g.32) Available balance what is your book balance? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g. 32.) Book balance References eBook & ResourceS Leaming Objective: 1701 Explain how firms manage their cash and idenly some of the collection concentration, and desbursement techniques used Difticulty: 1 Basic Section 17. 1 Float and Cash Management OAsk me anything

Explanation / Answer

1. Collection float

2. Available balance = $13,700

The deposited check shall not be available unless it i cleared.

3. Book balance = $13,700 + $5300 = $19,000

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