GARNISH Definition

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GARNISH is to take a debtors wages under a legal order, e.g. for child support or an IRS tax liability.

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CASH SHORT/OVER ACCOUNT, in retail sales, is where any differences between the cash register tape totals and the actual cash receipts is charged against the cash short and over account. If the ending balance of the account is a debit it is shown on the Income Statement as a miscellaneous expense. If the ending balance of the account is a credit it is shown on the Income Statement as Other Revenue.

STRIPPED PRICE, for a preferred stock, is the market price minus the theoretical dividend.

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