Delay in Cash Receipt. Blake Corporation receives average daily cash receipts of $140,000. The finance manager has determined that the time period between the mailing of a check and its actual...

Delay in Cash Receipt. Blake Corporation receives average daily cash receipts of $140,000. 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?