Examlex
Which of the following statements is true
Overdue Accounts
Accounts receivable that have not been paid by the due date, indicating delayed payments from customers.
Lock Box
A banking service provided to companies for the collection of payments from customers, where the payments are sent directly to a post office box, then quickly processed by the bank.
Mail Float
The time delay between when a check is written and mailed, and when the recipient actually receives and processes the payment.
Processing Float
The time difference between when a payment is made and the funds are actually available in the payee's account.
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