A Lockbox System

A lockbox system:

A) entails the use of a bank which is centrally located to collect payments on a nationwide basis.
B) is designed to deposit a customer's check into the firm's bank account prior to recording the receipt of that check to a customer's account.
C) is used to reduce the disbursement float of a firm.
D) is efficient regardless of the locations selected for lockbox destinations.
E) automatically records payments to a customer's account when the customer's check is received at the lockbox location.