Julia opens a checking account with Washington Bank and deposits funds into the account.Julia and Washington Bank
A)do not have a contractual relationship.
B)have a creditor-debtor relationship in which Julia is the creditor and Washington Bank is the debtor.
C)have a creditor-debtor relationship in which Washington Bank is the creditor and Julia bank is the debtor.
D)do not have a creditor-debtor relationship.

Question

Quizplus · Accepted Answer

When Julia deposits funds into her checking account, she becomes the creditor, and Washington Bank becomes the debtor, as the bank owes her the amount deposited.

Julia Opens a Checking Account with Washington Bank and Deposits