CASH DISBURSEMENTS/PAYMENTS JOURNAL Definition

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CASH DISBURSEMENTS/PAYMENTS JOURNAL is the journal recording all disbursements (or payments).

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CLAIMS OUTSTANDING, in general, is the difference between claims against assets (liabilities) and claims settled/paid. Within the insurance industry it would be the difference between insurance claims filed and claims settled/paid.

OPEN ALLOTMENT is where there is no restriction as to an amount that may be taken from that which is being allotted.

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