COMMISSION BUSINESS. (373 



sold it is much the quicker way to write a Consignment No. on the Sales 

 Book than to write the owner's name; the salesman may not know to 

 whom the goods belonged, the owner being simply identified by the Con- 

 signment No. 



248. THE SALES BOOK. The Sales Book is a small book (ruled in 

 common Journal form) used in which to record the on-account sales. 

 "When a sale is made on account, the person to whom we sell is charged 

 in this book in the same manner as though the goods belonged to us, 

 excepting that after having recorded the time upon which the goods were 

 sold (30 days, GO days, or whatever it may be), we add the Consignment 

 No. to which they belonged, in order that we may know to whom the 

 sale must be credited. From this book a sale thus recorded is posted to 

 the debit of the person's account to whom we sold the goods on the Ledger, 

 and to the credit of the owner (the person from whom we received the 

 goods) on the Consignment Book. 



249. THE CONSIGNMENT BOOK. The Consignment Book is a book in 

 which is kept the progressive sales accounts with the persons from whom 

 we receive goods to be sold on commission. When the consignment is first 

 received, we open an account with the person from whom we receive the 

 goods in this book, entering on the debit side first the date, then the Con- 



mrnt No. given by the Receiving Book, then the name of the owner 

 of the consignment, and, lastly, the number and description of the articles. 

 The entry made thus far on this book is simply a memorandum of the 

 goods received from the person, and as such it ever after remains. The 

 further use of this book is described as follows, viz. : To the debit side is 

 i'rom the Cash Book, all the charges we pay on the consignment 



M-eight, drayage, etc. ; and to the credit side is posted, from the Cash 

 Book and the Sales Book, all the sales. When the goods belonging 



igmnnit have all been sold, we enter on the debit side of the Consign- 

 // charges, such as Insurance, Storage, Co 



)iir, Commission or whatever they may be; after which we tiinl 

 flifi'-n-iic'- 1 ;hc total charges and the total sales, which dilier. 



roceeds. \V,- then close up this consignm.-nt ai: 1 (nu 



to the L. '.Iger, which is done by cnU'rin^ on the Consignment 

 Book, nn-l.T tie- charges, "To Net Proceeds" for the amount, which will 

 inak.- the consignment account balance; then, 1 Dg an M 



th- with tin; jMTson from whom we receive the consignment, .-m.l 



liting this account forth la -th-'juvountlr 



when \\ ,r same. Oin 



etc., heretofore : nay be at once entered 01 ' 



04 



