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(Solved by Expert Tutors) (Float). Reeder Printing has a balance of $100,000 in its checkbook


and a $100,000 available balance at its bank. When Reeder makes a deposit, funds are available in one day. When Reeder writes a check, it takes three day for the check to clear and for funds to be removed from the available bank balance. Assume that Reeder makes daily deposits of $20,000 and writes daily checks of $10,000 for the next 10 days. Then, for the following 10 days, Reeder makes daily deposits of $10,000 and writes daily checks of $20,000. Prepare a table showing the daily amounts for : checks written, check deposited, the book balance, the available balance, disbursement float, collection float, and total float.

 


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Apr 19, 2020

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