KEEPING ACCOUNTS. 233 



cessary in this connection, to show what to credit and what 

 to charge, under certain circumstances. If you give a man 

 a note for the balance of his account, you debit his account 

 and credit Bills Payable. When you pay the note, you 

 debit Bills Payable and credit Cash. If you receive a note 

 for balance of account, you credit the man's account and 

 debit Bills Receivable. When the note is paid, you credit 

 Bills Receivable and debit Cash. In the first entry in the 

 above example, it may be well to say, you do not give credit 

 to the man who drives the wagon, or to the wagon for its use. 

 These are legitimate charges against Teaming. At the 

 proper time you credit the man his wages, and charge or 

 debit Teaming for it (or that portion of his time in which 

 he has been engaged teaming), &c. 



Some businesses require an Interest account to be kept ; 

 of course, from our previous remarks, any one who finds- it 

 necessary will see the proper way to keep it. 



It is necessary, in connection with the Day-Book and 

 Ledger, to keep a Cash-Book and Bill-Books, where a person 

 does a credit business. The Cash-Book, to keep a record of 

 the receipts and disbursements of cash, which should be 

 balanced every night (if any cash has been spent or receiv- 

 ed during the day), and the money counted ; the balance v on 

 hand and the balance shown by the book should correspond ; 

 if they do not, something has been omitted. If you have 

 on hand more than the balance calls for, you have received 

 money which has not been entered on the debit side of the 



