Your firm starts with a book and available balance of $100,000 You then write a

Question

Your firm starts with a book and available balance of $100,000 You then write a check for $85,000 to pay for raw materials that has not been cashed.You also receive a check of S30.000 from a customer that has not been deposited. What is the net float?
Your firm starts with a book and available balance of $100,000 You then write a check for $85,000 to pay for raw materials that has not been cashed.You also receive a check of S30.000 from a customer that has not been deposited. What is the net float?

Explanation / Answer

Net float= amount deposited but not yet been cleared - check issued but not cleared yet= 300000-85000= -55000

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