Explain how lockboxes are used.
Question:
Lockboxes
Lockbox banking is a service provided by banks to companies for the receipt of payment from customers. Under the service, the payments made by customers are directed to a special post office box instead of going to the company. The bank goes to the...
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Lockboxes are post office boxes set up by the firm for its customers to deliv...View the full answer
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Muhammad Umair
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Related Book For 
Fundamentals of corporate finance
ISBN: 978-0470876442
2nd Edition
Authors: Robert Parrino, David S. Kidwell, Thomas W. Bates
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