Question

Al's Bakery has a checkbook balance of $1,650. A $700 deposit was made today and will be added to the available balance tomorrow. There are two outstanding checks that total to $623. There are no other outstanding items. Which one of the following statements accurately reflects this situation? * The firm's current available balance is equal to $1,650 plus $700 minus $623 The disbursement float is $1,650. The firm's collection float exceeds its disbursement float. The firm's available balance is greater than its book balance. The firm has a net disbursement float.

Answer 1

Answer:

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