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Pkg Acc Infor Systems MS VISIO CD

10th Edition
Ulric J. Gelinas
Publisher: CENGAGE L
ISBN: 9781133935940

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BuyFindarrow_forward

Pkg Acc Infor Systems MS VISIO CD

10th Edition
Ulric J. Gelinas
Publisher: CENGAGE L
ISBN: 9781133935940
Chapter 11, Problem 6RQ
Textbook Problem
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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 of Solution

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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