350 



DAY BOOK. 



Page 4. 

 October I Paid for stores for the use of the house, 9. 



Expenses account is debited and cash account credited. 



,, 10 Paid blacksmith's account, $ los. 



This is an expense incurred in repairing implements, and must come under the 

 head of working plant, that account is charged with the amount (debited), and cash 

 account credited for money paid. 



20 Paid for draining 6, contract work. 



This being an improvement it is charged (debited) to improvement account, 

 and cash account credited. 



December 13 Paid this day my promissory note to White and Co. for 1$. 



Bills payable account is debited and cash account credited for cash paid out. 



29 Jas. Morrissey paid his promissory note for 20 due 28th December. 



Cash account is debited for money received, and bills receivable account is 

 credited. 



31 Used in the house, garden and orchard produce during 12 months, to 

 the value of 10. 



This must be looked upon as an expense as if the cash were paid for the 

 produce ; expenses account is charged (debited), and crop receives credit (credited). 



,, 31 Used in the house butter, eggs, bacon, poultry, during 12 months, 

 value l$. 



This is also an expense. Expenses account ischarged (debited), and live stock 

 receives credit (credited). 



,, 31 Crop consumed by stock during 12 months value 2$. 



A certain quantity of produce having bei-n consumed by stock, live stock 

 account is charged (debited), and crop receives credit for what was used by stock. 



31 Paid for clearing, 20, contract work. 



This being also another improvement, the account is charged (debited), and cash 

 account credited for money paid. 



'Bills given and received are deferred payments ; the amounts represented by tlie.n do 

 not appear in the cash book until the bills are met, that is, paid. Three days grace 

 are given in addition to the ttme specified in bill. For instance, the bill given to 

 White and Co dated loth September does not become due until the I.Uh December. 

 If the date of payment (due date) falls on a Sunday it must be met (paid) the 

 previous Saturday. 



