I think so too. Especially considering it was the beginning of the month and his rent was due. Was it $2,500.? $3,000?
Remember, according to McGyver, Chase was at JM's on 1/31 and 2/2. My guess is....Chase was desperate and trying to get rent/food money from Joey. So CM goes to Joey's on 1/31 to ask for money. But, instead of handing over a couple of thousand like he's probably done many times in the past, JM might have said something like "let me go over the books tonight and see where we're at".
The next day, on 2/1 JM sends CM the email showing that Chase owed $42,845.00.
Still desperate and needing money, Chase decides to try again and goes back to Joey's on 2/2. This is when, IMO, Joey gives Chase the check for $200. Not $2,000..only $200.
This is the turning point IMO, I think Chase might have realized he wasn't going to be able to manipulate Joey anymore and their collaboration was coming to an end.
Chase goes home, prints the check for $2,495. Goes to Union Bank and cashes it.
There is no going back now. All MOO!