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George's Wholesaling agrees to purchase 1,000 pounds of bananas from Chickadee Exports at 39 cents...

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Finance

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George's Wholesaling agrees to purchase 1,000 pounds of bananas from Chickadee Exports at 39 cents per pound. George's does not have the money for the bananas now, but promises to pay in two months. Chickadee Exports wants George's business but needs the money now. Chickadee (as drawer) prepares an instrument ordering George's (as drawee) to pay $390 to Primary Bank (the payee). This is an example of O a check. O a trade acceptance. O a promissory note. O an outstanding claim

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