SPECIAL ACCOUNTS AND ENTRIES 169 



it while attending- annual meeting of the State Board of Agricul- 

 ture. (This is considered as a business rather than a pleasure 

 trip.) 



Jan. 22. Receives a check from the A. D. R. R. Co. for $15.10 

 for his claim made in June for seed corn lost in transit. 



Jan. 31. Credits Ed. Wise with wages. 



Feb. 1. Pays taxes $118.43. 



Feb. 2. Gives Ed. Wise a check for $10. He has the shoes 

 sharpened on Jack and Jim, for which he pays $1.40. 



Feb. 7. Buys a bob sled, $15, and also buys a ton each of 

 bran, $21; and middlings, $24. 



Feb. 10. Buys 4^2 bushels of clover seed for cash, at $9 per 

 bushel. (Debit 1917 clover crop.) 



Feb. 15. Buys the 40 acres adjoining the Lone Tree Farm 

 for $82.50 an acre. He pays $2000 in cash and The First National 

 Bank loans him the balance at 5% on three years' time, agree- 

 ing to accept payment of the whole or any part of the principal 

 on any interest paying date. He secures the bank by mortgage. 

 (Credit Mortgage Payable account for amount borrowed, show- 

 ing name of bank in explanation column. Debit Land for en- 

 tire purchase price.) 



Feb. 27. Pays for 2000 four-inch tile at $12.50 a thousand. 

 (Debit General Expense.) 



Feb. 28. Credits Ed. Wise with wages. 



Mar. 2. He gives Ed. Wise a check for $20. 



Mar. 9. He buys a pair of rubber boots for himself, $4.50. 



Mar. 20. Gives his check for 1000 feet of lumber, $27, to be 

 used in repairing buildings. (Debit Building Expense.) 



Mar. 31. Credits Ed. Wise with wages. 



Mar. 31. An inventory taken on this date resulted in the fol- 

 lowing aggregate amounts being shown as values of the various 

 possessions : 



Land $18,300; Buildings have depreciated 5% during the 

 year and equipment 10% of the value at the beginning. Horses, 

 $500; cattle, $75; hogs, $215; sheep, $600; corn $560; potatoes, 

 $20 ; clover hay, $90 ; seed corn, $30 ; fertilizer, $30 ; 1917 timothy 

 crop, $10.60; 1917 clover crop, $40.50; mill feed, $74.10. The 

 corn consists partly of that left after sorting seed for sale. The 



