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Question
On May 1, Ace Personnel, Inc., issues a payroll check to Barb drawn on its account at City Bank. On June 1, Ace receives its bank statement. On June 20, Barb indorses the check and cashes it at Downtown Finance Corporation. On July 1, Downtown transfers the check to EZ Collection Agency. On December 1, EZ presents the check to First National for payment. A stale check is one that is presented for paymenta. six months after issue.
b. six months after the first indorsement.
c. six weeks after issue.
d. six weeks after the last statement.
Answer
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