1. Calculating Float In a typical month, the Hampton Corporation receives 80 checks totaling $139,000. These are delayed four days on average. What is the average daily float? Assume 30 days in a month. 2. Calculating Net Float Each business day, on average, a company writes checks totaling $12,000 to pay its suppliers. The usual clearing time for the checks is four days. Meanwhile, the company is receiving payments from its customers each day, in the form of checks, totaling $23,000. The cash from the payments is available to the firm after two days. a. Calculate the company’s disbursement float, collection float, and net float. b. How would your answer to part (a) change if the collected funds were available in one day instead of two?
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