Credit Co. inadvertently cashes a check marked paid-in-full from Mark, who owes $3,000 but only pays $2,000. According to Uniform Commercial Code (UCC), section 3-311, Credit Co. has has 90 days from the date it cashed the check to offer repayment in the same amount to the debtor and thereby avoid an enforceable accord and satisfaction. Question 2 options: True False

Credit Co. inadvertently cashes a check marked paid-in-full from Mark, who owes $3,000 but only pays $2,000. According to Uniform Commercial Code (UCC), section 3-311, Credit Co. has has 90 days from the date it cashed the check to offer repayment in the same amount to the debtor and thereby avoid an enforceable accord and satisfaction. Question 2 options: True False

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter5: Internal Control And Cash

Section: Chapter Questions

Problem 2SEQ

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