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phrases and sayings

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markwest | 22:28 Fri 06th May 2005 | Phrases & Sayings
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What does "in the red" mean?
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Usually refers to owing money, as in being overdrawn - in the red.
I think it comes from the days when if you were overdrawn it was printed in red on your Bank statement.
Spudqueen is correct - as recently as the 1980s, before computers were a given in the office, bookkeepers used red ink in ledger books to note minus amounts or minus balances.
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