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Stale Dated Check" Please respond to the following: XYZ Corporation paid Mary Smith her usual...

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Accounting

Stale Dated Check" Please respond to the following:

XYZ Corporation paid Mary Smith her usual payroll check, and Mary neglected to cash it. Two years later, Mary found the check and presented it for payment. Meanwhile, XYZ Corporation had gone bankrupt, but the teller paid the check without this knowledge. Assess any remedies the bank might pursue when this situation is discovered

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