NLilly-Assignment-Unit8 - Running Head UNIT 8 ASSIGNMENT...

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Running Head: UNIT 8 ASSIGNMENT 1 Unit 8 Assignment Natasha Lilly HS240: Medical Office Accounting Kaplan University
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UNIT 8 ASSIGNMENT 2 Kinn’s The Administrative Medical Assistant, 8th Edition Chapter 23: Banking Services and Procedures VOCABULARY REVIEW (all questions are 1 point each unless noted) 1. Judy was unaware that checks were processed through clearinghouses before they arrived at her bank. 2. Because Alicia was the person who wrote the check, she was considered the maker . 3. When the Blackburn Clinic purchased the ultrasound machine, they paid $10,000 toward the principal so that they would be charged less interest. 4. Pamela wrote a check to Samantha, so Pamela is the payor and Samantha is the payee . 5. The holder of a check is the person who is presenting it for payment and may not be the person named as the payee. 6. Grace studied the Uniform Commercial Code , which is a series of laws that regulate sales of goods, commercial paper, secured transactions in personal property, and many aspects of banking. 7. First National Bank is considered the drawee for Dr. Lupez’s business checking accounts. 8. Instruments that are legally transferable to another party are considered negotiable .
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