The Cash Book - Cheques
4 important questions on The Cash Book - Cheques
What are the three parties to a cheque?Explain each.
2. The Drawee- the bank who holds the account of the drawer and will make the transfer of funds.
3.The PAYEE- the person to whose account the money is payable.
What do you call the central place where the drawee sent cheque if the drawer and the payee don't have the same bank?
What is Crossed cheques?
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When is a cheque considered to be DISHONOURED?
- if paying the cheque would not bring the drawer's ovredraft above any amount between the bank and the drawer.
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