Surrender accepted here, many papers reported (5)
I believe the answer is:
reims
'surrender accepted here' is the definition.
(Germany surrendered at Reims in World War 2)
'many papers reported' is the wordplay.
'many papers' becomes 'reams' (a ream is a large amount of paper).
'reported' shows a homophone (sound like).
'reams' sounds like 'REIMS'.
(Other definitions for reims that I've seen before include "Champagne capital (variant spelling)" , "City of northeast France" , "city in NE France" , "City, the traditional site for crowning French kings" .)