TRAVELLING EXPENSES. 



COLLECTION AND EXCHANGE. 



6C3 



3O9. Debit for all cash we pay 

 out for collection of drafts, notes and 

 checks ; and for exchange on bank 

 drafts, post-office orders, etc. 



Credit for rebate- on L-X 

 change, if any. 



CLOSING. The Collection & Exchange account is closed at the 

 end of the year the same as the Salaries account. (See 202.) 



EXPLANATION. Some banks allow their customers who purchase 

 large quantities of exchange a rebate, for the same reason that the rail- 

 road companies allow their patrons a rebate on freight. (See 208.) When 

 they allow us a rebate, and pay or give us credit for same, we then credit 

 Collection & Exchange. If the bank simply gives us credit in our bank 

 book, which they usually do, we debit Cash and credit Collection A 

 change ; and then enter on the stub of our check book the amount thus 

 credited to us, as though it had been a deposit made by us, consequently 

 increasing our deposit in the bank that amount. 



TRAVELLING EXPENSES. 



3IJI. D.-l.it for amount paid to 

 our travelling agents, or expended 

 by ourselves for travelling expenses. 



311. CLOSING. Tii- Travelling Expenses account at the end of the 

 year is closed tin- same as the Salaries account. (See 202.) 





31.1. EXPLANATION, This an-oiint Isuaed only in a wholesale 



when- they employ travellin !! their goods. There a: 



tivating tli.- Travelling Expenses account, principal among which 

 are tin- following methods : 



3E4J /'.'/ Met >me business houses employ travelling agents. 



.ng tin-in a n-irular salary an 1 telling them to go Oil t and sell their 



,nd they will pay /// tin /, \Vh n 



this is don*- tip- tly to the Travelling I 



A gent ace- i for eaeh <.f tlie 



travelling a 



