Cambrige Notes: The clearing of cheques
ZIMSEC O Level Commerce Notes: Money and Banking: The clearing of Cheques.
- There are three ways and circumstances in which a cheque may be cleared.
If the payee and drawer use the same bank and branch
- The payee deposits the cheque into his/her account.
- The payee is credited and,
- The drawer is debited.
If the payee and drawer use the same […]