Today, Merkel & Sons deposited 3 checks for $510, $690, and $420 respectively. These checks will be added to the...
lason.Today, Merkel & Sons deposited 3 checks for $510, $690, and $420 respectively. These checks will be added to the firm's available balance tomorrow. The firm also wrote 4 checks today for $160 each. These are the only outstanding checks. The firm has $10,000 in its checking account.
1. Compute the disbursement float.
2.Compute the collection float.
3. Compute the Net Float.
4. What is the firm's book balance?
5.What is the firm's available balance (Bank Balance)?
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