HOW TO KEEP FARM ACCOUNTS. 



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TRA]SSACTIO>i^ FUR MARCH, lyuii. 



MARCH I. 

 Cash on hand $42.59. The Bank sends him his cancelled checks for February. 



MARCH 2. 

 He gives Ed. Wise check for $20.00. 



First. — Charge or debit Wise (Plate 53, item ca). See 178. 

 Second. — Credit the Bank for the check (Plate 52, item db). 



See 213. 



MARCH g. 

 He buys a pair of rubber boots for himself, $4.50, and gives check for same. 



F^rst. — Debit or charge Fox for the amount of check (Plate 53, 

 item cb). See 110. 



Second.— Credit Bank (Plate 52, item dc). See 213. 



MARCH 20. 

 1,000 feet of Lumber cost $27.00, and he gives check for it. 



103. First.— Expense is debited (Plate 53, item cc). See 162. 

 Second.— Bank credited (Plate 52. item dd). Refer to 213. 



MARCH 31. 



104. It is the last day of the year, and, wisliiu>: to close the 

 I.edger. he gives Ed. Wise credit for eleven months" labor, as per 

 contract, at |300.00 a year, and also credits himself with what he 

 thinks is a fair valuation for his services (?H00.00) for the year. 

 He also takes an inventory and balances his cash for the month. 

 Cash on hand, |42.59. 



105. If we have a man hired by the year, we open an ac- 

 count with him. and charge him for the money we pay him from 

 time to time. Then, at the end of the year we credit him with his 

 wages for the year, and charge it to labor. 



90 



