Special post office boxes set up by the firm to expedite the receipt and processing of its accounts receivables are called

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The special post office boxes set up by the firm to expedite the receipt and processing of its accounts receivables are called lockboxes. This method is used by firms to reduce the time between the receipt of payment and the availability of funds. It helps in streamlining the payment collection process and reduces the risk of loss or theft of payment.

Special Post Office Boxes Set Up by the Firm to Expedite