Question

Quick Corp. has $270,000 of outstanding accounts receivable. On March 10, Quick assigned to Taft for value (consideration) a $30,000 account receivable due from Pine, one of Quick Corp.'s customers. On March 30, Pine paid Quick Corp. the $30,000. On April 5, Taft notified Pine of the March 10 assignment from Quick to Taft. Taft is entitled to collect $30,000 from Select one: a. Neither Quick nor Pine. b. Quick only. c. Pine only. d. Either Quick or Pine

Answer 1

Answer:

b. Quick only

Explanation:

According to the given situation, since Taft bank collected the money from Quick corporation as not from Pine because the company would failed to inform pine assignment from quick corporation on time So the taft would be collected from Quick only

Hence, the correct option is b

And, the rest of the options would be considered incorrect