Collection


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Collection

The presentation of a negotiable instrument for payment, or the conversion of any accounts receivable into cash.

Collection

The act of receiving payment for goods or services. Collection occurs on the spot in a cash sale, while it may occur some weeks or even months later in a credit sale. See also: Accounts receivable, Collection policy.
References in classic literature ?
We admired it so much, that I have ventured to write it into Miss Smith's collection.
You really must not ask me to go through your collection.
This shows the immense difficulty in preventing that species of traffic, where there is an inland communication, and places in a strong light the disadvantages with which the collection of duties in this country would be encumbered, if by disunion the States should be placed in a situation, with respect to each other, resembling that of France with respect to her neighbors.
I am astonished," said Miss Bingley, "that my father should have left so small a collection of books.
When an itinerant priest of the persuasion of the Methodists, Baptists, Universalists, or of the more numerous sect of the Presbyterians, was accidentally in the neighborhood, he was ordinarily invited to officiate, and was commonly rewarded for his services by a collection in a hat, before the congregation separated.
His looks shewing him not pained, but pleased with this allusion to his situation, she was emboldened to go on; and feeling in herself the right of seniority of mind, she ventured to recommend a larger allowance of prose in his daily study; and on being requested to particularize, mentioned such works of our best moralists, such collections of the finest letters, such memoirs of characters of worth and suffering, as occurred to her at the moment as calculated to rouse and fortify the mind by the highest precepts, and the strongest examples of moral and religious endurances.
ILLINGWORTH (rising): `Our point is that such a collection might have been made in other places than a prehistoric plateau.
Though he had some differences with my father in early youth, no sooner had he taken over the Collection than he became like a pagan priest dedicated to a temple.
He had already quite a collection of prizes, worthless books on bad paper, but in gorgeous bindings decorated with the arms of the school: his position had freed him from bullying, and he was not unhappy.
In spite of the many pills she swallowed and the drops and powders out of the little bottles and boxes of which Madame Schoss who was fond of such things made a large collection, and in spite of being deprived of the country life to which she was accustomed, youth prevailed.
I call it the library now, but then we called it the bookcase, and that was what literally it was, because I believe that whatever we had called our modest collection of books, it was a larger private collection than any other in the town where we lived.
Acting on language, those qualities generate a specific and unique beauty--"that other beauty of prose"--fitly illustrated by these specimens, which the reader needs hardly be told, after what has been now said, are far from being a collection of "purple patches.