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overdraws

(Dictionary)

Author:
Harold Averkamp, CPA, MBA

Definition

A term that refers to a negative checking account balance. It arises when a company writes checks in excess of the amount it has on deposit in its checking account.

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About the Author

Harold Averkamp

For the past 52 years, Harold Averkamp (CPA, MBA) has
worked as an accounting supervisor, manager, consultant, university instructor, and innovator in teaching accounting online. He is the sole author of all the materials on AccountingCoach.com.

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