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Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447

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BuyFindarrow_forward

Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447
Textbook Problem

You have just received a check. Your account number is #099-506-8. Write the following endorsements in the space provided below and identify what type they are.

Chapter 4.I, Problem 3RE, You have just received a check. Your account number is #099-506-8. Write the following endorsements

Allowing you to deposit the check in your account.

To determine

The type of endorsement for allowing you to deposit the check in your account, and write them accordingly as you have just received a check with your account number #0995068.

Explanation

Given Information:

The bank account is 0995068.

An endorsement is a kind of instructions with signature to the bank written on the back of a check.

An endorsement used the payee to cash a check is known as blank endorsement. An endorsement used when the payee wants to deposit a check in his or her account is known as restrictive endorsement. An endorsement if the payee wants to transfer a check to another party is known as full endorsement.

For the account number #0995068, allowing you to deposit the check in your account will be said as restrictive endorsement because the check is being deposited in your account

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