Jill Scott is an accountant with Cameron and Associates,a law firm in Seattle.The firm maintains a checking account with Southern Rock Bank for its operating expenses.On the 10th of every month,Jill gets an inventory report from the office manager listing the office supplies that are needed.Jill places the appropriate orders with Office Depot and writes them a check against the office's checking account.In the above banking transaction,Cameron and Associates is the ________.

Question

Quizplus · Accepted Answer

The drawer is the person or entity that writes a check, and in this scenario, Cameron and Associates is the entity that writes the check to Office Depot. Therefore, Cameron and Associates would be considered the drawer in this banking transaction. The payee is the person or entity who receives the payment, the indorser is the person who endorses the check, and the holder is the person who holds the check. None of these terms accurately describe Cameron and Associates' role in this particular transaction.

Jill Scott Is an Accountant with Cameron and Associates,a Law