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What is the weighted average delay assuming that each month has 30 days? Your firm receives the following checks each month. The average amount of each check and the average collection delay are as shown below. A. 31,000 3 days B. 48,000 5 days C. 91,000 2 days

What is the weighted average delay assuming that each month has 30 days? Your firm receives the following checks each month. The average amount of each check and the average collection delay are as shown below. A. 31,000 3 days B. 48,000 5 days C. 91,000 2 days<br/>

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Asked by Bsawyer, Last updated: Nov 09, 2024

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bsawyer

bsawyer

bsawyer
Bsawyer

Answered Sep 06, 2018

3.03 days

Total receipts = 31,000 + 48,000 + 91,000 = 170,000 Weighted Average delay = (31,000/170,000)*3 + (48,000/170,000)*5 + (91,000/170,000)*2 = 3.03 days Chapter 19, Question 6
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