RED INK PROM1S 691 



might be lost. It is not necessary for the book-keeper to ascertain the 

 exact average, but simply to look over the accounts and approximate the 

 average. 



RED INK PROMISES. 



3O5. The red ink entries that are made in the Ledger, will, in this 

 work, be styled, " Red Ink Promises," the reason for which will be clearly 

 perceptible to the pupil after having read this article. Beginners in the 

 practice of book-keeping frequently close an account in red ink, and ne- 

 glect to bring down or carry forward the balance ; and for such persons 

 this article is prepared. With the single exception in par. 270 and L'71, 

 red ink entries are never made in the Ledger except when we wish to 

 balance an account and bring down below the closing lines or carry for- 

 ward to a new page the amount for a new account ; or. to carry the 

 amount to some other account, or both, as is the case with the closing 

 of the Merchandise account at the end of the year. Therefore, when we 

 balance an account with a red ink entry, we promise that account that 

 r having ruled the closing lines, we will dispose of its value as indi- 

 cated in the red ink entry, in one or more of the following ways : 



1st. If the red ink entry be " By Inventory," we promise the account 

 that we will, after having closed it, bring down on the debit side below 

 the closing lines the value of that inventory. 



2nd. If the red ink entry be " By Loss & Gain" or "To Loss & Gain," 



we promise the account upon which we write this, that we will tran 



to the Loss & Gain account the amount here indicated as lost or gained. 



,'Jnl. If the red ink entry be "By Private account" or " Stock account/' 



or "To Private account" or "Stock account," we promise the Loss & Gain 



mt that we will transfer the net gain or loss to that account. 

 4th. If the red ink entry be "By Balance" or "To B.ilamv," we pro- 

 >unt that we will, aft;-r having rul-d tin- I hor 



ni,' down bolow the.se closing lines, or cany forward to a now pa^o, 

 lit!' 'tween tli3 two si.hs of tho. account, as in licati-d in tin- n-d 



ink ontry. 



OfV Having <!>>; ! an an-.ount with a n % 1 in' wo alw.r 



'.an I or br'.nij down ill am mnt directly to the opposite side of t 



r from that upon whi.-h tin- red ink entry w.. 

 5JO7. It those rod ink promises are at all times fulfill ilanco of 



ted by a rod ink On the olhT ha 



failure on our part to fulfil any of those promises for us a 



