average collected balance

Definition

Checking account's average dollar amount during a specific period, calculated by subtracting uncollected checks from the daily ledger balances and dividing by the number of days in the reporting period (generally one month).

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The average collected balance was pretty cool and I was glad that it was not out of order and didn't have any problems.

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The average collected balance on her account was $200 and she knew that she was in very real danger of not having enough money to cover her expenses.

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The company did not keep sufficient average collected balances on deposit to cover the cost of services over the period. In effect, the company has a compensation deficit of $186.30, which is owed to the financial institution.

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average balance average collection period