RULES FOR BOOK-KEEriM:. (J31 



ever, as the book is quite expensive, and as a great amount of time is re- 

 quired in which to paste the invoices therein, the author would recommend 

 the system suggested in paragraph No. 309. 



J.I. THE BILL BOOK, OR BILLS RECEIVABLE AND BILLS PAYABLE BOOK, 

 is used as a memorandum book for Notes and Time Drafts (Acceptances), 

 ring when they become due. ^ 



A MISTAKE IN BOOK-KEEPING WILL NEVER BE MADE IP THE FOLLOWING RULES ARE 

 AT ALL TIMES STRICTLY ADHERED TO. 



2<>. First. Debit what we receive. "Why?" Because wli at we re- 

 ceive costs us something of value. 



7. N wild. Credit what we give. " Why ? " Because what we give 

 produces us something of value. 



J* Third. For eveiy amount entered to the Debit side of an account 

 or accounts in the Ledger, enter a like amount to the credit side of some 

 other account or accounts for the same amount. 





