x /Chapter 17 xCourse Schedule-MKTC x Nelcome to Chrome x1 welcome ! FlashLine ×
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x /Chapter 17 xCourse Schedule-MKTC x Nelcome to Chrome x1 welcome ! FlashLine × M FN-36053-003-201780 connect. hapter 1 Question 1 (o 10) 10.00 points You have $130,000 on deposit with no outstanding checks or uncleared deposts One day you write a check for $54,000 Does this create a disbursement float or a collection float? Click to select) What is your available balance? (Do not round intermediate calculations and round your answer to the nearest whole number, eg.. 32.) what is your book balance? (De not round intermediate calculations and round your answer to the nearest whole number, eg. 32.) Book balance References ook & Resources Leaming Objective 17-01 Explan how fems manage their cash and identity some of the colection concentration, and desbursmen echnues use Ditficulty: 1 Basic Section 17 Float and Cash Management Ask me anythingExplanation / Answer
A.
If Deposited check worth $545,000 take few days time to clear check then yes it will create collection float.
b.
Untill check not get cleared, vaiable balance in bank will be equal to previous balance that is $130,000.
c.
SInce, you have deposited check in bank, so you make make entry in book of $5,500 transaction.
So, book Balance = $130,000 + $54,000
= $184,000
Book Balance is $184,000.
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