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Accounting Information Systems

11th Edition
Ulric J. Gelinas + 3 others
ISBN: 9781337552127

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BuyFindarrow_forward

Accounting Information Systems

11th Edition
Ulric J. Gelinas + 3 others
ISBN: 9781337552127
Textbook Problem

Describe several ways that companies have reduced the float connected with cash receipts.

Summary Introduction

To explain: The ways with which companies have reduced float with cash receipts.

Introduction:

B/AR/CR process:

It is an accounting process with an interacting structure of different process supporting the decision-making activities of the financial managers.

Explanation

The ways with which companies have reduced float with cash receipts:

The float with respect to the cash receipts are known as the collections float. Companies have reduced the float with the use of lockbox technology and concentration banking. All the customers of a company are asked to send their checks to a specified bank...

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