ACCOUNTS FOR PRIMARY GRAIN ELEVATORS. 9 



Both the bushels and value of all grain recorded on this form should 

 be totaled on dates to agree with the totals of the record of grain 

 receipts. Like the record of grain receipts, the record of grain 

 purchases should be totaled monthly. The totals showing the 

 amount purchased for the year are carried to the grain report opposite 

 "Gross pui'chased." The total amount of all checks issued for 

 grain in any month should be carried to the cash, journal, purchase, 

 and sales record and there entered in the ''bank withdrawals" column 

 in one amount. The total cost of the various grains is then carried 

 to the debit of the "grain accounts" in the "general ledger" column 

 of the same form, this constituting a consoUdated cash entry for all 

 the transactions in grain purchases for the month. Where storage 

 charges are represented, they should be credited to the "storage 

 account" in the "general ledger" column, and in such cases the 

 cost of grain should equal the amount of the check plus the storage 

 charges, because the storage charges are deducted from the grain 

 cost in order to arrive at the amount of the check. 



RECORD OF GRAIN SHIPMENTS AND SALES. 



The record of grain shipments and sales (Form No. 4, facing p. 20) 

 carries a record of all cars shipped and the net returns from each 

 shipment. The proceeds from each variety of grain should be 

 totaled and posted at the end of the month to the credit of "grain 

 accounts" in the general ledger. The items in the "net proceeds" 

 column should be posted to the debit of the grain commission accounts 

 represented in the "shipped to" column. The monthly totals of 

 bushels from this form should be carried to the grain report oppo- 

 site "Shipments and sales." In the operation of this form it will 

 be found that some of the shipments for any month will be still 

 standing out as grain in transit at the end of the month. Before 

 beginning a new month, the 1st of April, for instance, it would be 

 necessary to make an entry for the month of March as follows: 

 "Total March returns on February shipments"; opposite this 

 would be set down in total the net returns of all February shipments 

 which had been received during March. In order to avoid confu- 

 sion, however, reference should be made to February entries for 

 posting to the individual "commission accounts." By this method 

 the total returns on all grain will have been posted to the proper 

 "commission accounts" by individual postings. Although we post 

 only totals to the credit of the "grain accounts," the total returns 

 on each kind of grain shipped during the previous month and returned 

 during the current month can be added in with the March shipments 

 and returns in order to arrive at the total amount of returns for the 

 month of March. This same method will apply if a car shipped in 

 February should not bring returns until April, as the February entry 

 25749°— Bull. 362—16 2 ^ 



