CREAMERY BOOKKEEPING 



FORM XXX 



Debit Ledger 



333 



2. The debit ledger, also known as the dealer's ledger, deals 

 with personal accounts; it contains all accounts with the firm's 

 customers. 



The left-hand side of the ledger is known as the debit and 

 the right-hand side as the credit side. The principal rules in 

 posting to the ledger are first "debit what we receive" and 

 second "credit what we give." 



When the credit side of an account in a ledger is the greater, 

 then the amount by which the credit exceeds the debit is either 

 a Uabihty or a gam. When the debit side of the ledger is greater, 

 then the difference is a resource or a loss. 



A personal account is an account with a person, firm, or cor- 

 poration. 



A resource is anything of value belonging to the firm. A 

 liability is anything that is owed, such as a personal account, 

 bills payable, notes payable, etc. 



ni. The Cashbook. — The cashbook is a book in which is 

 recorded a detailed record of all cash transactions. The left- 



