74G THE HOME, FAUM AXD BUSINESS CYCLOP/EDIA. 



bill, make a memorandum of it, showing from whom it was received, then 

 try this at the bank in the next deposit. 



834. Payment on Discounted Notes. When we receive payments on 

 notes which have been discounted and still remain in the bank, we simply 

 take the money to the bank and see that the amount is by the banker 

 endorsed thereon no entry being made for same on our books unless it 

 be to make a memorandum of such payments in the Bills Receivable and 

 Dills Payable Book. 



835. Waive Protest. When there are no endorsers on the notes we 

 receive from our customers, and we wish to discount them in the bank, 

 waive protest by writing on the backs of such notes " Protest Waived,' 

 and thereby save the customers the protest fees that would otherwise be 

 charged if the notes should not be paid when due. Care must be taken 

 not to waive protest on notes having endorsers ; for if protest be waived 

 on such notes, the security is, in some States, released. 



836. Sight Draft. In making a sight draft on a person, if you want 

 it paid upon presentation, leave the " time" blank ; i. e., commence it : 

 "" Pay to the order of," etc. It is customary, however, to make the 

 drafts " at sight " or " at three days' sight " in order not to take the 

 person upon whom drawn by surprise, but to give him a little time to 

 raise the money. 



S3T. Computing Interest on Payments. In computing interest on 

 payments on notes, it is the better plan to compute the interest on the 

 full face of the note up to the present time, and afterward on each pay- 

 ment up to the present time ; then the difference may be found between 

 the sums total of the interest on the payments and the amount of the in- 

 terest on the full face, which difference will be the net amount of interest 

 due. The total amount due will, of course, be the difference between the 

 sum total of the payments and the sum total of the face of the note plus 

 the interest due. 



338. " C. 0. D. : ' Sales, and Sales for which ive make Sight Draft as 

 soon as Goods are Shipped. When we ship goods to the country C. 0. D., 

 or ship them and make a sight draft on the person as soon as the goods 

 are shipped, we may enter the person's name under our " Petty Accounts," 

 if we have no regular account with him, as it is not advisable to open an 

 account for only one entry. The person must, of course, be charged as 

 soon as the goods are shipped, and credited when the money is, by the 

 express company or bank, collected and returned to us. 



839. Different Kinds of Business Consolidated. When a merchant 

 conducts several different kinds of business in one, and wishes to know 



