Show transcribed image text Smitty’s Chop Shop normally writes checks in the amount of $15,000 each day

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June 8th, 2024

.transtutors.com/Transtutors004/Images/Transtutors004_0706dc08-237d-4326-ba26-a4a62e55379d”>Show transcribed image text Smitty’s Chop Shop normally writes checks in the amount of $15,000 each day. It takes five days for these checks to clear through the banking system. The firm also receives checks in the amount of $12,000 daily but loses four days while they are being deposited and cleared. What is the firm’s disbursement float, collections float, and net float?

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