18 BULLETIN 236, IT. S. DEPARTMENT OF AGRICULTURE. 
STATEMENT. 
Farmers' Elevator Balance Sheet, Year Ending 
ASSETS. 
Gash $287. 50 
Accounts receivable $3, 208. 00 
Less reserve for bad debts 400. 00 
2,808.00 
Notes receivable 325. 00 
Plant and real estate 9, 500. 00 
Less reserve for depreciation 1, 300. 00 
8, 200. 00 
Grain commission accounts 860. 00 
Inventory: 
Wheat 1, 458. 00 
Corn 395. 00 
Oats 536. 00 
Rye 28.00 
Barley 106. 50 
Hard coal 281. 00 
Soft coal. I 354. 00 
Other merchandise (supplies) • 2, 976. 70 
6,135.20 
18, 615. 70 
LIABILITIES. 
Accounts payable 876. 55 
Notes payable 4, 200. 00 
Capital paid in 8, 950. 00 
Surplus 4, 589. 15 
18, 615. 70 
SUPPLY ACCOUNTS SETTLED WITH GRAIN. 
When requests are received from patrons to deduct from the 
amount due for grain sold the amount which they may owe the com- 
pany for supplies purchased, two grain checks should be issued. The 
first check should contain the total number of bushels and kind of 
grain being purchased, together with the balance due the patron 
after deducting the amount of his account from the full value of the 
grain. 
A second check should then be made without reference to bushels 
of grain, and marked "For a/c receivable," in the full amount de- 
ducted from the previous check. This check is then indorsed over to 
the elevator by the patron and both checks are entered in the record 
of grain purchases, the first check going to the patron and the second 
being deposited to the account of the elevator as cash received. By 
this means both sides of the transaction have been carried out through 
the only proper medium of settling accounts, which is cash. 
