ACCOUNTS FOR PEIMARY GRAIN ELEVATORS. 11 



report/' the result will be "gross on hand." By deductmg from this 

 the '^ shipments and sales," the difference will be the "net on 

 hand." It is always important for a manager to know whether 

 the grain which he has on hand belongs to the elevator in whole 

 or in part, or is partly or entirely stored grain. By subtracting the 

 gross amount of bushels of grain purchased from the gross receipts 

 the total amount stored at date will be shown. Should this be 

 greater than the net on hand, it will indicate that some grain which 

 has been stored has been sold without being purchased from the 

 owner of the grain — in other words, that there has been an amount 

 of stored grain sold. Should the total stored at date be less than 

 the net on hand, then the difference between the two would be the 

 amount of purchased grain on hand. 



MERCHANDISE REPORT. 



The merchandise report (Form N"o. 8; see p. 23) serves merely as an 

 inventory, giving the total on hand at the last inventory, purchases, 

 sales, and net on hand, which should agree, allowing for proper 

 deductions or additions, with the actual inventory. 



CASH, JOURNAL, PURCHASE, AND SALES RECORD. 



The cash, journal, purchase, and sales record (Form No. 1), facmg 

 p. 20) differs from ordinary books of first entry in that both the 

 debit and credit entries, which are to be posted later to the ledger, 

 are of necessity entered on this form before it can be balanced. 



The debit columns of this form are designated as follows : 



Date. 



FoHo. 



Cash. 



Bank deposits. 



General ledger. 



Accounts receivable ledger. 



Hard coal (lbs , amount ). 



Soft coal (lbs , amount . ). 



There are also provided columns in blank which may be used to 

 suit the convenience and requirements of the individual elevator. 

 The credit columns comprise the following : 



Check number. 



Folio. 



Bank withdrawals. 



General ledger. 



Accounts receivable ledger. 



Sales ticket number. 



Hard coal (lbs , amount ....).> 



Soft coal (lbs , amount ). 



