First National Bank receives a check drawn on the account of Get-Rich Industries, Inc., one of the bank’s customers, at 3 p.m. Friday. Harry, the pre­senter of the check, is not one of the bank’s customers. The bank uses de­ferred posting with a 2 p.m. cutoff hour. If it decides to dis­honor the check, it must do so by midnight
A. Saturday.
B. Sunday.
C. Monday.
D. Tuesday.
Answer:D
First National Bank receives a check drawn on the account of Get-Rich Industries, Inc., one of the bank’s customers, at 3 p.m. Friday. Harry, the pre­senter of the check, is not one of the bank’s customers. The bank uses de­ferred posting with a 2 p.m. cutoff hour. If it decides to dis­honor the check, it must do so by midnight
A. Saturday. B. Sunday. C. Monday. D. Tuesday.