When a bank collects a note for the holder, it notifies the holder on a form called a
A) debit advice.
B) proceed report.
C) collection report.
D) credit advice.

Name: When a bank collects a note for the holder, it notifies the holder on a form called a A) debit advice. B) proceed report. C) collection report. D) credit advice.
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Question

Quizplus · Accepted Answer

A credit advice is a notification sent by a bank to inform the holder that a note has been collected and credited to their account.

When a Bank Collects a Note for the Holder, It