CREAMERY BOOKKEEPING 



333 



FORM XXX 



DEBIT LEDGER 



NAME: / 



DATE ITEMS PAGE DEBIT 



CREDIT PAGE - DATE 



5. 



*C 



50' 



00 



50* 



20 



~29 



2. The debit ledger, also known as the dealer's ledger, deals 

 with personal accounts; it contains all accounts with the firm's 

 customers. 



The left-hand side of the ledger is known as the debit and 

 the right-hand side as the credit side. The principal rules in 

 posting to the ledger are first " debit what we receive" and 

 second " credit what we give." 



jf When the credit side of an account in a ledger is the greater, 

 i then the amount by which the credit exceeds the debit is either 

 a liability or a gain. When the debit side of the ledger is greater, 

 j then the difference is a resource or a loss. 



A personal account is an account with a person, firm, or cor- 

 poration. 



A resource is anything of value belonging to the firm. A 

 liability is anything that is owed, such as a personal account, 

 bills payable, notes payable, etc. 



III. The Cashbook. The cashbook is a book in which is 

 recorded a detailed record of all cash transactions. The left- 



