TAXES. 



G57 



ACCOUNTS WITH PERSONS FROM WHOM WE BUY GOODS 

 OR BORROW MONKV. 



171. CYc-dit, at commencement 

 of business for aim unit we owe 

 them. 



17*5. Credit for all merchandise 

 we buy from them on account. 



176. Credit for all cash we bor 

 row from them on account. 



177. Debit for all ca>h we pay 

 them on account. 



17V l>ebit for all merchandise 



turn to them on account. 



179. Debit for all checks, bank 

 drafts sight drafts, money ord :*, 

 etc. (called cash), we give them on 

 account. 



180. Debit for all drafts they 

 draw on us at sight, on demand, or 

 at one, three, or five days' sight, we 



(See 143.) 



1*1. Debit for all notes we give 

 them on account, made by us pay- 

 al.l- to th.-m. See 130 and 131.) 



182. Debit for all time drafts 

 th< -\ draw on us we accept. (See 

 133, and 142.) 



183. EXPLANATION. When we commence business, we open accounts 

 witli all tin- pn-suns wr air owing, and credit all such persons for tin- 

 are owing them. Whenever we buy goods, and do not pay 

 the person from whom we buy, or whenever we borrow money, and do 



ive tli' 1 person a note for tin' amount borrowed. we credit the 

 s.n . and when we pay th- 08 i'nm whom we bought the goods or 



01 '/ivc tin-in a note, or accept a time draft which 

 draw on US, W6 debit th.-m. 



TAXES, 



I* I. !)!, it for all pay 



city, county, and ot ! 



PP 



