16 BULLETIN 811, U, S. DEPARTMENT OF AGRICULTURE. 
Grain and Merchandise Inventory (A7). 
Debit: 
1. With the value of merchandise and 
grain on hand as shown by the bal- j 
ance sheet at the time of opening 
the books. 
2. With the value of grain and mer- 
chandise on hand and in transit at 
the end of the fiscal period . (Credit 
the various grain and merchandise 
accounts.) 
Credit: 
1. With the amount necessary to close 
this accoimt at the beginning of 
a new fiscal period. (Debit the 
various merchandise and grain 
accoimts.) 
This account is raised for the purpose of showing this asset on the books at the time of 
closing. It is closed into the various grain and merchandise accounts immediately 
upon reopening the books for the following fiscal period. 
B. ACCKUED ASSETS. 
Accrued Interest — Xotes Receivable (Bl). 
(To be used only by the larger companies. See also Interest account, Xo. N3.) 
Debit: 
1. With the accrued interest on Notes 
Receivable as shown by the bal- 
ance sheet at the time of opening 
the books. 
1. With the interest accrued on Notes 
Receivable during the period. 
(Credit Interest account.) 
Credit : 
1. With interest received. 
The balance of this account represents the accrued interest on notes receivable 
and should be shown as an asset on the Balance Sheet. 
Accrued Storage (B.2). 
Debit: 
Credit: 
1. With the accrued storage as shown 
1. 
At the beginning of a new fiscal 
by the balance sheet at the time 
period with the amount previously 
of opening the books. 
debited to this account. (Debit 
2. With the accrued storage at the close 
Storage account.) 
of the period. (Credit Storage 
account.) 
This account is raised to show on the books, at the time of closing, the earning 
from storage which has not yet been collected but which is an earning of the period. 
