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Elmer can write checks on his account at Finance City Bank. Gina stole the checks,...

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Accounting

Elmer can write checks on his account at Finance City Bank. Gina stole the checks, forged Elmer's signature and cashed the checks at Finance City. The bank would be excused from any liability if, after receipt of the first forged check, Elmer failed to report the forgeries within:

  1. five days.
  2. fourteen days.
  3. one year.
  4. the bank would not be excused.

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