Under a lock-box system,customers' payments are initially received by the company's:

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Under a lock-box system, customers' payments are sent directly to a designated bank account rather than being received by the company's internal departments, such as accounts receivable or treasurer's department. The bank then processes the payments and forwards the funds to the company. This helps to streamline the payment collection process as well as reduce the time it takes for a company to receive funds from its customers.

Under a Lock-Box System,customers' Payments Are Initially Received by the Company's