Answer:
The disbursement float is $63,679
Explanation:
In this question, we are asked to calculate the firm’s disbursement float
This can be calculated mathematically;
Mathematically;
disbursement float = Total checks a day * Average amount * time taken for clearing
From the question, we can identify the equation parameters as follows;
The number of total checks in a day = 22
The average amount of the checks is $827
The time taken for clearing is 3.5 days
Now, let’s plug these parameters
disbursement float = 22 * 827 * 3.5 = $63,679