On a typical day, PPC writes $1,000 in checks. Generally, those checks take four days to...

On a typical day, PPC writes $1,000 in checks. Generally, those checks take four days to clear. Each day the clinic typically receives $1,000 in checks, which take three days to clear. What is the clinics float?

Expert Solution

Disbursement float = $1,000 * 4 = $4,000

Collection float = $1,000 * 3 = $3,000

This is a disbursement float of $4,000 - $3,000 = $1,000

jeff jeffy answered 2 years ago

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