Specifies a default value for initializing a field to which
       you do not make a direct assignment in STORE or Restructure
       statements.

       Format

         DEFAULT  [VALUE]  [IS]  literal

1  –  Argument

    VALUE IS

       Are optional keywords you can use to clarify the syntax of the
       clause.

    literal

       Is either a numeric or character string literal.

2  –  Examples

       Define a field in a student record that sets a default value for
       tuition owed at registration.

       09 TUITION_DUE PIC Z(4)9.99
          EDIT_STRING IS $$$,$$$.99
          DEFAULT VALUE IS 4800.

       Define a date field with the default value of the day you store
       the record:

       03 DATE_IN USAGE DATE DEFAULT "TODAY".