678 



BOOK-KEEPING. 



Book- 109. If it be a general account of voyages, credit 



Keeping. t j, e accoun t by balance for such as remain uncertain, 

 / ^" and close the account by profit and loss for the re- 

 maining difference. 



Bills. 



110. The debit shews the cost of such as are re- 

 ceived by the merchant, the credit shews what they 

 produce. 



111. Credit the account by balance for so many as 

 remain, allowing a separate line for each bill, in the 

 manner each is expressed on the debtor side. 



112. For the remaining difference, close the ac- 

 count by profit and loss. 



Acceptances and Notes Payable. 



113. The debit shews the cost of those you have 

 paid. 



114. And the credit shews the consideration for 

 which they were accepted or passed. 



115. For the notes not yet paid, debit the account 

 to balance in as many lines as there are acceptances 

 or notes remaining unpaid, in the manner each is ex- 

 pressed on the creditor side, and for the remaining 

 difference close the account by profit and loss. 



Bottomry. 



116. The debit shews what consideration was given 

 for such contracts, the credit shews what they have 

 produced. _ 



117- Credit the account in so many lines as there 

 are contracts remaining in the terms in which they 

 are expressed on the debtor side. 



1 18. Close the account for the remaining difference 

 by profit and loss. 



Bends. 



119. This is of the same nature as the last, and 

 closed in the same manner. 



Bonds Payable: 



120. This is of the same nature as acceptances and 

 notes payable, and closed in the same manner. 



.. ouses, I ar e of the same nature, and clo- 

 Lands, 

 Moveables, 



sed in the same maimer. 



A Personal Account. 



122. The debit shews the merchant's charge against 

 that person, trie credit shews his charge against the 

 merchant. 



123. Debit the account to balance, if the creditor 

 side be greater. 



121. Credit the account by balance, if the debtor 

 side be greater. 



An Account Current of 



125. The merchant's business done by a factor, and 

 titled A. B. my account. 



12G. The debit shews the employer's charge on 

 '.he factor. 



127. The credit shews the factor's charge against 



I t 



the employer, so when the account is sent to the em- Eook- 



ployer, . Keeping 



128. The particulars of the debit of the one must " 

 be compared with the credit of the other. 



There are three Cases, 



129. When the factor's money is of the same va- 

 lue and denomination, and drafts on them, or remit- 

 tances to them are made at par. 



130. When the money is not foreign, and drafts 

 and remittances are not made at par. 



131. When the money is foreign, and drafts and 

 remittances are not made at par. 



132. In the first case the account is closed like a 

 personal account. 



133. In the second case the account requires inner 

 columns, for the particulars of which the factor and 

 the employer account with- each other; the outer co- 

 lumns shew, what the several particulars of the inner 

 columns respectively produce. 



134. The inner columns are closed by balance ; 

 which balance is valued at the current rate of ex- 

 change, and carried to the outer columns. 



135. The outer columns are closed by profit and 

 loss. 



136. The third case requires inner columns for the 

 factor's money ; close the inner columns with balance 

 for what remains due either to him or by him. 



137. Enter the value in the outer columns at the 

 current rate of exchange. 



138. Close the account with profit and loss. 



139. Note. When a factor furnishes an account, 

 it is to be compared with the employer's Leger ac- 

 count ; the debtor of each, with the creditor side of 

 the other, and the factor's columns with the em- 

 ployer's inner columns. 



140. The additional charges are to be examined, 

 that ifthere.be any mistake, the factor may bead- 

 vised of it without delay. 



141. When every charge is found to be exact, en- 

 ter m one line on the credit side of your Leger ac- 

 count, and in the inner columns the total ; and unless 

 it so happen that the account have no inner columns, , 



142. Make no entry for any charges of inte- 

 rest, brokerage, or commission in the outer columns, 

 as was observed of leakage and lackage, 101, 

 102, the only exception to this is, when the gain or 

 loss may arise from different causes, as 1st set, Le- 

 ger, folio 4, by interest, and by the exchange. 



143. Close the account with profit and loss. 



144. Note also, that it may frequently happen that 

 the merchant may desire to examine his books with- 

 out settling with his factor, in which case the true 

 method is to close with a double balance as men- 

 tioned. To understand the examples given in the 

 different sets, it will be useful to refer to the follow- 

 ing Tables of the par of exchange, which were then 

 published, and this comparison will shew the course 

 of the exchange. 



145. A certain space of time allowed to the drawer 

 of a bill, to give notice of the transaction to the ac- 

 ceptor, is expressed in the bill by the word usance 

 (custom) ; it is a space of one or more calendar 

 months, or months of 30 days; the first day of which, 

 in some places, is reckoned as one. 



