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College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756

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BuyFindarrow_forward

College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756
Textbook Problem

Explain the difference between a blank endorsement and a restrictive endorsement.

To determine

Explain the difference between a blank endorsement and a restrictive endorsement.

Explanation

Endorsement:

Endorsement refers to the stamping or writing of payee’s name and other information on the back of the check, in the provided near the left end. Every check must be endorsed by the payee, describing the party to whom the check is payable. There are two types of endorsement namely blank endorsement and restrictive endorsement

Blank  endorsementRestrictive endorsement
Under blank endorsement the payee simply signs at the back of the check...

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