Describe and Summarize What Happens During the Collection Process Once

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The Answer is When a person deposits a check in his bank (the depositary bank),the bank credits his account by the amount of the check with a provisional credit.If the depositary bank is not the payor (drawee)bank,the check passes either directly through a clearinghouse or through one or more intermediary banks until it reaches the payor/drawee bank for collection.When the check is paid,all provisional settlements become final and the transaction is completed.

Describe and Summarize What Happens During the Collection Process Once

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