SYSTEM OF ACCOUNTING FOR COOPERATIVE ASSOCIATIONS. 13 
accounts which may have a number of charges during the month, 
such as Expense. The only difference in the two sets of checks lies 
in numbering the growers' checks beginning with fi l" and the general 
checks with, say, u 20001," but few of which will be required. 1 The 
checks (Form 10) are all bound in the usual commercial form of stub 
check book with three checks to the sheet. 
FORM 10. 
No. 4007 
June 25, 1914. 
T. C. Lunford, 
Car 49 PRR 105539 
Charge acc't of Fruit. 
$58.00 
58.00 
Do not detach THE EUREKA PRODUCE 
For payment as memo, below. FXOHANPF TNC 
Statement, June 25 . . 
Less. 
•% 
$58.00 
Proper indorsement is receipt 
for the above amount. 
No. 4007. 
Aurora, Delaware, June 25, 1914. 
Pay to theorder of T.C Lunford. $58.00 
Fifty-eight and no/100 dollars 
The Eureka Produce Exchange, Inc. 
To the Farmers National Bank, 
Aurora, Del. 
A. K. Melton, Treasurer. 
As explained under ' 'Account Sales" (p. 14), the checks are written 
up from the accounts sales and the entry is made on the cash book in 
total instead of in detail, thus: 
Date. 
Names. 
Explanation. 
Check 
Nos. 
Fruit. 
Growers Statements. 
CarFGE 129 
2066 
to 2078 
22240 
405 00 
All checks drawn in the second check book are entered in detail 
on the cash disbursement sheet. 
The balance brought forward from the preceding month is entered 
in the Deposit column. 
The balance in bank at any time is the difference between the 
Deposit column on the cash receipts side and the total of the Fruit and 
the Sundries columns on the cash disbursements side. 2 
Reconciliation of the bank account should be made at the end of 
each month, the list of outstanding checks being written on the cash 
disbursement sheet, or an adding-machine list pasted thereon so that 
it will not be lost. 
1 It is often desired by the Directorate and in many instances specified by the by-laws that certain distinc- 
tions be made between checks covering payments to growers and those covering expenses and other items. 
Two sets of checks were used by the Exchange in which this system was tried out, so that there would be 
no interruption of the work should it be desired while drawing a large number of checks in favor of growers 
to draw a check for some other purpose. 
3 If it is desired to carry on the ledger an account with cash, showing the monthly receipts and disburse- 
ments, this can be easily done. The total of the Sundries, Fruit, and Merchandise columns on the cash 
receipt's side will represent the total receipts, and the total of the Fruit and Sundries columns on the cash 
disbursement's side, the total disbursements. 
