Batman Corporation receives average daily cash receipts of P140,000. The finance manager has determined that the time period between the mailing of a check and its actual availability for corporate use is 4 days. What is the amount of cash being tied up because of the delay? choose the letter of the correct answer a. P260,000.00 b. P360,000.00 c. P460,000.00 d. P560,000.00 e. P660,000.00

Batman Corporation receives average daily cash receipts of P140,000. The finance manager has determined that the time period between the mailing of a check and its actual availability for corporate use is 4 days. What is the amount of cash being tied up because of the delay? choose the letter of the correct answer a. P260,000.00 b. P360,000.00 c. P460,000.00 d. P560,000.00 e. P660,000.00

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter6: Bank Accounts, Cash Funds, And Internal Controls

Section: Chapter Questions

Problem 5E

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