SYSTEM OF ACCOUNTING FOR COOPERATIVE ASSOCIATIONS. 5 



The final entry is: 



Fruit $631.75 



To Cash $631. 75 



This is made when checks are drawn to the growers for the amount 

 of the net proceeds. 



Should a balance exist in the ledger on account of supplies bought, 

 and should it be desired to deduct this amount from the account 

 sales, another journal entry is made to cover the transfer; viz: 



Fruit $20.00 



To Grower $20. 00 



for the amount of the debit balance shown on the particular growers' 

 account. 



The plan of the second method is given on page 23. 



BOOKS AND SPECIAL FORMS. 



The following books and special forms are used in this system: 

 The receipt, manifest, bulletin, invoice, car envelope, account sales, 

 journal, cash receipts, cash disbursements, stub check book, and 

 ledger. Each of these is described at length under separate headings. 



THE RECEIPT. 



Upon delivery of fruit by the grower it is inspected and a receipt 

 (Form 1) is made out by the inspector or agent. This shows the 

 name of the shipping station, date, car initials and number, grower's 

 name, quantity, grade and kind of fruit or produce, results of inspec- 

 tion, and inspector's or agent's name. It is made in duplicate; the 

 original is sent to the office and the duplicate is handed to the grower 

 for his record. At the office the receipts are checked against the 

 manifests to see that all the deliveries are accounted for properly. 1 



FORM 1. 



The Receipt. 





■Frankford 



«k A™ 8, 



1M4 





P RR 



r»r No 105539 

 Received for shipment of 

 T. C. Lunford 









20 cr. XXXX 



Gandys 









The Eureka Produce Exchange, 



Inc., 2 



No. 5. 





Ry H. L. SMITH, 



Agent. 



1 The crops handled by the exchange in which this system was tried out were strawberries, cantaloupes, 

 early pears, summer apples, and sweet potatoes in car lots. As these crops follow each other without over- 

 lapping, this simple form of receipt served the purpose better than a highly involved form. 



2 This name is a fictitious one and used for illustrative purposes only. 



