A(n) ________ is an order by the drawer to the drawee bank to pay a specified sum of money from the drawer's checking account to the named payee (or holder).

Question

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An ordinary check is a written order from the account holder (drawer) to their bank (drawee) instructing them to pay a specific amount of money to a named recipient (payee) or bearer. It is a commonly used payment instrument in everyday transactions.

B) A promissory note is a written promise to pay a specific sum of money at a future date or on demand. It is a debt instrument used for borrowing or lending money.

C) A bill of exchange is a negotiable instrument in which one party (the drawer) orders another party (the drawee) to pay a specific amount of money to a third party (the payee) at a specified time or on demand.

D) A credit memo is a document issued by a seller to a customer, indicating that the seller is crediting (reversing) an amount previously charged to the customer's account, typically because of a return or adjustment. It is not a payment instrument used to transfer money from one party to another.

A(n) ________ Is an Order by the Drawer to the Drawee