THE NEW STUDENTS REFERENCE WORK
2165
The following illustrates the ledger account of the above transactions as shown on the books of David Grant in account with A. A. Evans: Dr. A. A. Evans. Or.
l9ii —- —— j<^|—
April 2 1 bbl. St. Louis flour 6 75 April 20 Cash 5 00
3 Ib. currants @.15 45 <£ 301/2 cord wood @6.50 3 25
8 4 Ib. Rio coffee @.25 100
3 Ib. Smyrna figs@.20 60
" 30 5 Ib. Vt. butter @.32___1 6£ Balance ___2 15
_____________________________10 40_____________________________10 40
May 1 Balance 2 15
The difference between the sum of the debits and the sum of the credits is called the balance.
The balance is entered on the less side of the account, and makes the footings of the two sides equal.
Entering the balance and the footings, and drawing the proper lines as above, is called closing or balancing the account.
May 1, 1911, David Grant presents to A. A. Evans his bill, which is settled and receipted as follows:
Trenton, N. J., May 1, 1911. Mr. A. A. Evans.
To David Grant, Dr.
April 2 1 bbl. St. Louis flour @ 6.75 6 75
3 Ib. currants @ .15 45
8 4 Ib. Eio coffee @ .25 1 00
3 Ib. Smyrna figs @ .20 60
30 5 Ib. Vermont butter @ .32 __1 610 10 40
Or.
April 20 By cash 5 00
30 By % cord wood @ 6.50 __3 9^___8 2£
Balance 2 15
Eeceived payment,
DAVID GRANT.
