If John and Todd both have chequing accounts in the same commercial bank and John writes a cheque for $5,000 payable to Todd,what will happen to the bank's accounts?

Question

Quizplus · Accepted Answer

When John writes a cheque to Todd and both have accounts in the same bank, the bank simply transfers the money from John's account to Todd's account. The bank's total assets and liabilities remain unchanged because the transaction is internal.

If John and Todd Both Have Chequing Accounts in the Same