Question

Jill Scott is an accountant with Cameron and Associates, a law firm in downtown Seattle. The firm maintains a checking account with Southern Rock Bank for its operating expenses. On the 10th of every month, Jill gets an inventory report from the office manager listing the office supplies that are needed. Jill places the appropriate orders with Office Depot and writes them a check against the office's checking account. Who is the drawee in this banking transaction?A) Jill Scott.B) Office Depot.C) Cameron and Associates.D) Southern Rock Bank.

Answer 1

Answer:

The correct option is D,Southern Rock Bank

Explanation:

A drawer is the person who has issued a check and from whose account funds are to be withdrawn.The drawer in this scenario is Cameron and Associates

A drawee is the bank that manages the account from which funds are to be withdrawn.The Southern Rock Bank  is the drawee here.

The payee is the beneficiary of the issued check that has the right to present for cash or pays it into its checking account.The payee in the scenario is Office depot

Hence,this relationship can be said to be a tripartite one involving the drawer,the drawee and the payee