ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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DEBTORS CONTROL ACCOUNT Definition
DEBTORS CONTROL ACCOUNT reflects the total amount owed by the all the individual debtors. The balance of the debtors control account must equal the total of the debtors list, which represents the amounts owed by the individual debtors obtained from the individual balances in the various subsidiary ledger accounts for each debtor. This subsidiary ledger is known as the debtors ledger.
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ALTERNATE PAYEE ENDORSEMENT, normally, it is when one payee endorses a draft over to another entity, then the new or alternate payee endorses the draft near the original payees endorsement (signature).
CMO RESIDUAL is the residual is the cash flow remaining on each payment date after all payments on the CMO tranches have been made. The primary source of the residual is cash generated by the collateral that is greater than the payments due on the CMO tranches.