SYSTEM OF ACCOUNTS FOR FARMERS ' COOPERATIVE ELEVATORS. 7 
(Form No. 9; see p. 24) has been provided. Upon this report the 
manager records all the transactions in receipts and purchases of 
grain and incloses duplicates of sales tickets covering sales of mer- 
chandise and of receipts for cash. From this form the bookkeeper, 
although not employed in the elevator, is able to keep the system 
of records in a satisfactory manner. The records of disbursements 
covering incidental items in most cases are controlled by the secre- 
tary or treasurer, and the bookkeeper should ook to him for records 
of this type. 
PATRONAGE LEDGER. 
In a few States cooperative laws have been enacted enabling coop- 
erative organizations to distribute dividends upon a patronage basis, 
and for elevators operating under this law a patronage ledger has 
been devised (Form No. 7; see p. 22), upon which are recorded the 
individual purchases and sales of merchandise under the name of each 
customer. 
GRAIN AND MERCHANDISE REPORT. 
At the end of the year, just before balancing the books, an inven- 
tory of all merchandise on hand should be taken. Form No. 8, grain 
and merchandise report (see p. 23), has been provided with suitable 
headings so that the amounts of grain and merchandise on hand can 
be recorded. This form serves a valuable purpose in giving the value 
of net and stored grain on hand at date, from which comparisons can 
be made showing the amount of stored grain sold. 
CASH, JOURNAL, PURCHASE, AND SALES RECORD. 
Previously it has been usual to provide a cashbook, journal, and 
daybook under separate forms in elevator systems. In the system 
herein described these books, together with a record of purchases, 
have been incorporated into one form (Form No. 1, facing p. 20), called 
the cash, journal, purchase, and sales record. As all the forms com- 
prising this system, with the exception of reports and the patronage 
ledger, are in loose-leaf form, they may be contained in one binder 
(and the consolidation of four books under one form is a further con- 
densation of the work). In the cash, journal, purchase, and sales 
record are recorded all regular cashbook entries, such as receipts of 
money and disbursements through checks, together with all journal 
entries and records of local sales of merchandise. Purchases of ma- 
terial such as flour, coal, etc., are recorded under " Purchases/' giving 
pounds and amount. 
SALES TICKET. 
All the local sales of merchandise are originally entered upon the 
sales ticket (Form No. 13; see p. 28), and these sales tickets are made 
up in pads of 50 originals and duplicates, numbered consecutively. 
