Sylvia deposits a $50 check drawn on Valley Bank into her account at First Bank.First Bank transfers the check to Second Bank,which in turn forwards it to Valley Bank,which pays the item.Which of the following is correct?
A) Valley Bank is the payor bank and the drawee bank.
B) Valley Bank is the drawee bank and the collecting bank.
C) Valley Bank is the payor bank and the collecting bank.
D) Valley Bank is the payor bank,the drawee bank and the collecting bank.
Correct Answer:
Verified
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