[AGA-sc] Follow-up comment on the example disbrusement

["S. Hieber" <shieber@yahoo.com>]

Just a follow-up to the example disbursement I sent a
little while ago:

The reason for figuring the disbursements as if the checks
to sellers are are all cashed it that it lets the books
essentially close. It will mean that money remains in the
account until all the checks clear but some of them might
be out there for a couple of months or more. 

If any of the checks don't come through after say, three
months and sending reminders to those sellers, then that
residual money in the Wachovia account can be split and
disbursed. 

Last year I sent reminders monthly to sellers with checks
outstanding and several checks were not cashed until well
into 2004. But I ended up with only one check last year
that never cleared. The seller said he received it and that
his "wife swears up and down that she had cashed it." I
offered to send him another check since the first one 
never cleared the AGA2K3 account but he declined. I think
it was for $6.81.

regards,
sh
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