Samantha writes a check to Miranda for $2,500, to be drawn from her account with Mahopani Bank. Miranda deposits the check into her account with Central Bank. Central Bank sends the check to Buffalo Bank, which sends the check to Mahopani Bank for payment. Which of the following statements regarding this set of facts is true? 

A. Buffalo Bank is the depository bank. 

B. Mahopani Bank is an intermediary and collecting bank. 

C. Buffalo Bank is an intermediary and collecting bank. 

D. Central Bank is the payor bank

Answer rating: 100% (QA)

C Buffalo Bank is an intermediary and collecting bank EXPLANATIO... View the full answer