Discover the best answers at Westonci.ca, where experts share their insights and knowledge with you. Explore thousands of questions and answers from a knowledgeable community of experts ready to help you find solutions. Discover detailed answers to your questions from a wide network of experts on our comprehensive Q&A platform.
Sagot :
The delay between the deduction of the payment amount from the customer's checking account and the time in which that amount is received by the vendor is treated as the collection float.
Option C is the correct answer.
What is meant by collections?
Collections are the amount that has yet to be received by the company from the customers.
When the amount paid by the customer gets deducted from his/her bank account and the same amount earned by the selling party for spending further, then the duration between deduction and its reach to the vendor is considered as a collection float.
Therefore, the collection float represents the time of receiving payment to the vendor with its initial deduction from the customer's account.
Learn more about the collection float in the related link:
https://brainly.com/question/15854385
#SPJ1
Thank you for choosing our platform. We're dedicated to providing the best answers for all your questions. Visit us again. We appreciate your visit. Our platform is always here to offer accurate and reliable answers. Return anytime. Thank you for using Westonci.ca. Come back for more in-depth answers to all your queries.
