BJ’s just reconciled its bank account and has $10,800 in outstanding deposits, $26,300 in checks outstanding, and a positive checkbook balance. The firm sells on a cash-only basis and deposits its receipts at the bank daily. The deposited funds are available to the firm the following day. The firm writes and mails checks on a daily basis also. These checks generally clear the bank in three days. What do you know about the firm's float given this information?

The disbursement float usually exceeds the collection float.

Explanation:

BJ's deposits its receipt in the bank everyday which will be available to the firm the next day.The checks given are by the firm on the daily basis which is a cash out flow but it takes three days to clear the check until then bank balance will remain high than the original value of the firm. This is termed as outstanding check.

Outstanding deposit is the deposit made by the firm but it will appear in the statement a little later. It can be said as deposit in transit.Net float is calculated as firms available balance minus the book value.

yes

step-by-step explanation:

they have to be opposite and reciprocal of eachother.