Explain what is the amount of the average daily float

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Reference no: EM13215248

Harvest generally receives three checks a month in the amounts of $46,500, $32,000, and $63,800. On average, it takes two days for the funds from these checks to be added to the firm's available balance at the bank once they have been deposited. What is the amount of the average daily float?

Reference no: EM13215248

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