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Explain the role of a lockbox in the revenue cycle by answering the following questions. a. What is meant by a lockbox as used in

Explain the role of a lockbox in the revenue cycle by answering the following questions.

a. What is meant by a lockbox as used in the revenue cycle? How is it used?

b. What is the financial benefit that a lockbox provides to a company?

c. What risk is a company attempting to reduce by using a lockbox?

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