QUESTION 6 On 25 January Coot Company has $250 000 deposited with a local bank. On 27 January the company writes and mails cheques of $20 000 and $60000 to suppliers. At the end of the month Coot's financial manager deposits a $45 000 cheque received from a customer in the morning mail and picks up the end-of-month account summary from the bank. The manager notes that only the $20 000 payment of the 27 January has been cleared by the bank. What are the companys cash account ledger balance and the payment float? What is the company's net float• QUESTION 6 • • On 25 January Coot Company has $250 000 deposited with a local bank. On 27 January the company writes and mails cheques of $20 000 and $60 000 to suppliers. At the end of the month Coot’s financial manager deposits a $45 000 cheque received from a customer in the morning mail and picks up the end-of-month account summary from the bank. The manager notes that only the $20 000 payment of the 27 January has been cleared by the bank. What are the company’s cash account ledger balance and the payment float? What is the company’s net float?