Sylvia deposits in her account at First Bank a $50 check drawn on Valley 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.
B) Valley Bank is the drawee bank.
C) Valley Bank is the collecting bank.
D) Two of the above, (a) and (b) , are correct.
Correct Answer:
Verified
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