Determine Whether the Following Is Valid or Invalid

Short Answer

Determine whether the following is valid or invalid:
Look, if the check bounced, then you're right: Two things will happen. First, we'd owe a penalty. And second, our records would be out of whack. Now, if our records are out of whack or if we pay a penalty-either way-then we're in big trouble, just like you said. The check isn't going to bounce, though. So relax. We're not in any trouble.