BUSINESS PRACTICE AND ACCOUNTS FOR COOPEEATIVE STORES. 33 
Form 19.— JOURNAL. 
SAMPLE ENTRIES. 
June 15, 1915. 
L. F. 
Pursuant to Articles of Association and Minutes of June 1st, 
and 8th, the Farmers' Cooperative Association began business 
with the following resources and liabilities: 
Br. 
Cr. 
C. B. 
Cash 
2,500 
00 
7 
Stock Notes 
3,500 
00 
1 
Capital Stock 
Being 60% of the authorized capital stock, as per stock sub- 
scription agreements 1-145 
6,000 
00 
.4 
January 31, 1915. 
Accounts Receivable 
2,600 
00 
Page 
26 
3 
Merchandise Sales 
Credit sales for January. For details see J. 30. 
2,600 
00 
3 
January 31, 1915. 
Merchandise Sales 
6 
00 
4 
Accounts Receivable 
Returns and Allowances for January. For details, see J. 40. 
6 
00 
2 
December 31, 1915. 
Cash 
86, 628 
00 
3 
Merchandise Sales 
30 
00 
6 
Coupons (Redeemed) 
19, 600 
00 
6 
Coupons (Issued) 
12, 390 
00 
3 
Merchandise Sales 
34, 900 
00 
4 
Accounts Receivable 
35,475 
00 
5 
Bills Receivable 
4,560 
00 
8 
Bills Payable 
13,000 
00 
9 
Interest 
180 
00 
1 
Capital Stock 
2, 050 
00 
7 
Stock Notes 
3,400 
00 
10 
Furniture & Fixtures 
125 
00 
11 
Commission 
Cash Receipts for the year, as per Summary C. B. 16. 
Posting authorized, 
J. B. Doe, 
Manager. 
178 
00 
Journal. 
The use of the Journal is very restricted in modern bookkeeping. 
It is confined practically to four classes of entries — opening entries, 
correction o 7 * adjusting entries, periodical summary entries, and 
closing entries. These several entries are made in the Journal, with 
suitable explanations, with a view to finally posting them into the 
General Ledger. An illustration of opening entries is the first above. 
