A thousand due, but cut (5)

I believe the answer is:

mowed

'cut' is the definition.
(I've seen this before)

'a thousand due' is the wordplay.
'a thousand' becomes 'm' ('M' can be a synonym of 'thousand'**).
'due' becomes 'owed' ('owed' can be a synonym of 'due').
'm'+'owed'='MOWED'

'but' acts as a link.

(Another definition for mowed that I've seen is " Cut the grass".)

I've seen this clue in The Times.

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