The highest daily fee to eliminate collection float is $551 (approx). According to the given information, the highest daily fee that should be paid to eliminate the collection float is $550.82 which is approx $551.
<h3>What is a Collection Float?</h3>
Collection Float refers to an asset that is currently in a state of transition. It is used in two contexts:
- Concerning the Bank Deposits
Given,
Average Daily Receipt = $26,482
Average clearing days = 1.3 days
Daily Interest Rate = 0.016%
Required to Calculate = Highest daily fee to eliminate collection float
Calculation,
Highest daily fee collection float = Average daily receipt x Average clearing days x daily interest rate.
= $26,482 x 1.3 x 0.016%
Highest daily fee to eliminate collection float = $550.8 which is $551 (approx).
Thus, According to the given information, the highest daily fee that should be paid to eliminate the collection float is $550.82 which is approx $551.
Learn more about Collection Float here:
brainly.com/question/14253771?referrer=searchResults
#SPJ1
I’m pretty sure the answer is C. To cultivate responsibility in our students
Answer:
True
Explanation:
The journal entries are the recording of the transactions in which the one account is debited and another account is credited along with the description and the date.
If we take the example.
Rent is paid for cash for $10,000
So, the journal entry would be
Rent expense A/c Dr $10,000
To Cash A/c $10,000
(Being rent is paid for cash is recorded)
So, the given statement is true
She opts for a distributorship franchise, under which she will license distributors to sell her handbags
Explanation:
The success of the entrepreneur was assisted by retailers and professional sales officers.
Such alliances could promote their goods in new geographical areas, place them in shops that would not even speak to small farmers, and offer useful services such as easy order fulfilment.
Nevertheless, retailers can be as hard to attract as supermarket customers. It needs patience, analysis and hard work to win them over.
In this scenario, Tina wants to sell her designed new type handbag with the help of licensed distributor.
Answer:
Hope I am giving you the right answer
