THK EXPLANATION OF THE JOURNAL. 707 



a record of the goods we sell to him ; but proceed in a common-sense man- 

 ner by simply writing : " E. Russell, Dr. ;" then on the next line begin 

 with the it'-ms, omitting the " To" which is by many prefixed to the items. 

 " Red Tape " does very well for the army and navy, but the business man 

 has no use for it. After all the items have thus been entered, the total is 

 found and that amount is extended into column 347 to the credit of the 

 M.-rchandise account. (See 371, 68 and 165.) The debit to Russell is- 

 posted to 707, and the credit to Merchandise is not posted until the end 

 of the month, and then it, with all the other merchandise sales, is posted 

 to the credit of Merchandise account in one entry. (See 470.) 



K.\. o72. Same as 370. Posted to 714. 



Kx. 373 and 374. Bennett is owing us $304. He gives us a check on 

 the bank for 8104, which is entered in the Cash Book; and a note at 90 



lays for the balance, which is entered here ; Bills Receivable account being 



It -liited for the note received and his account credited, with all the expla- 

 nation that is required following on the next line. (See 108, 113 and 171.) 

 :>7.S is posted to 608. 374 posted to 696. Remember that nothing is 

 entered in the two outer columns except merchandise items. 



Same as 370. Posted to 715. 



:!7<i, .'>77 aii'l 378. These parties having found that the goods they 

 bought of us were spoiled, now return them. We give them credit and 

 debit Merchandise in column 342. (See 376.) The credits to Russell and 

 Dollus .>77 and 378) are posted to 710 and 710; and the debit to M.-r- 

 chandi-M- is not posted until the end of the month, when it, with all the 

 other M'-ivhaiidise debits entered in this column, is posted to the debit of 

 M'ivhaii' Use account in one entry. (See 69 and 168 ; also 469.) When 



that were sold for cash, and we return the moi 



tor sani" we m.iy either tak-- the money out of the sales drawer, and thus 

 make the sales for the day less, or take it out of our regular cash dra\ 

 and drl.it tip- amount returned to Merchandise >n the Cash Book. 



. \Vlu-n tin- ki'ij of hi'i-rings is returned to us by Dollus, as 

 'd, we those remaining in our stock, and find there are in all 



."> k> ame spoiled; so i to the firm from \vhoin 



bought tin-in, G. \V iJoivl.-uid As Co., clrir^in^ Boreland and crediting 

 Merchandise. (See 17 and 70.) Posted to 775. 



.'5s<) and 3S1. We are owin^ Arbuckle Tiros. They draw on us at 

 lays from |V<-. .'iid, 1 !." etc., across the face of 



the draft, and return it to them, and by so dnimr promise to pay them in 

 GO days from !>. :Jrd, t' int. which is th,- sam<- in 



