OX AVERA;iNi; ACCOUNTS. 



t t > 



897. AnotJier example. There is another example that occurs less 

 frequently, viz. : One which arises from account- / , /. e., accounts 

 with persons to whom we sell goods on time and from whom we buy 

 goods on time, also cash is paid on account by us or by them. Finding 

 the average date of payment on an account of this kind consists in find- 

 ing the date upon which the balance or the difference between the two 



s is due, the rules for finding same and the illustration are as fol- 

 low : 



898. 1st. Find the dates the bills are due, and write the same on a 

 slip of paper, with the amounts opposite taking first one side of the ac- 

 count and then the other. If any cash payments, the dates put down on 

 this slip for same are the dates upon which the payments were made. 



85)9. 2d. Same as 892 this "basis" being found either on the debit 

 side or the credit, whichever presents the bill latest due. 



900. 3d. Same as 893 taking first one side of the account, and then 

 the other, and keeping the figuring for the two sides 'separate. 



901. 4th. Find the difference between the sum total of the interest for 

 the debit side of the account and the sum total of the interest for the 

 credit side of same. 



902. 5th. Find the difference between the two sides of the account ; 

 then cut off or draw a line through the cents and the unit number of the 

 dollars, after which divide this difference by 3, place the decimal point 

 two places to the left in this product, which will give the inteivst on this 

 balance for one day at one per cent per month. 



9OJI. Gth Divide the balance of interest as found in 901, by tin- 

 est on the balance of account for one day, as found in !K)J, an-1 tin* pro- 

 duct thus found will be the number of days to count bach "//-/ from the 

 basis' 1 ';is found in S!)'J, to find the average date of payment, or the dut- 

 the account is due by equation. 



1MM 



[LLUSTRATION. G, M. i; 



