Page:Encyclopædia Britannica, first edition - Volume I, A-B.pdf/694

 584 B O O K - K E E P I N G. has but one Debtor and one Creditor, as the firft of former rule. After which, the feveral Debtors or' thefe above. A complex pofi is either when one Debtor Creditors muft be particularly mentioned, each in a is balanced by two or more Creditors, as in the fecond line by themfelves, with their refpedtive fums fubjoinport; or when two or more Debtors are balanced by ed to them; which are to be added up, and their toone Creditor, as in the third poll ; or when feveral tal carried to the money-columns, as in the fecond Debtors are balanced by feveral Creditors, and then the and third pofts. poll is faid to be complex in both its terms. This being The'Journal, as defcribed and exemplified above, is premifed, the rules to be obferved are thefe following. the form that was firft in ufe among merchants; and is I, In a Ample poft, the debtor is to be exprefsly men- ftill the moft common : but fome make their Journal juft tioned, then the creditor, and, laftiy, the fum, all in a fair copy of the Wafte-book, with the. Debtors and one line : After which follows the narrative, or reafon Creditors written out on the margin, which is ruled large of the entry, in one or more lines, as in the firft of for that purpofe. We lhall here fubjoin the three preceding pofts done after this way; which, to one who unthefe three ports above. II. In a complex poft, the feveral Debtors or Creditors derftands the common method, will be fufficient inftrucare exprefled in the firft line, by Sundries, or Sundry Accompts, and the reft of the line filled up as in the ■July ift.Dr Black Cloth, d. Bought 40 yards black cloth, /. ' s. Cr Cajh, - j 28 00 2 of James Sloan 100 yards Crs$% 00 04 00 Bought pj. Sloan,- II 2 03 (balloon, at 10 d. Whereof paid — — 2 00 Reft due at 2 mon. - 2 03 04 -4th.55 00 00 Sold Will. Pope 4 pipes Port wine, at Drs 5 S 00 00 27/. 10 r. Whereof received — 55 00 00 Cr Port Wine, Reft due on demand 55 00 00 Of the Terms Debtor and Creditor. The nature and ufe of the terms Debtor and Creditor will be obvious, from the confiderations following. I. Accompts in the Ledger confift of two parts, which in their own natufe aredire&ly oppofed to, and the reverfe of one another; which therefore are fet fronting one another, on oppofite fides of the fame folio. Thus, all the articles of money received go to the left fide of the Cafh-accompt, and all the articles or fums laid out are carried to the right. In like manner, the purchafe of goods is ported to the left fide of the accoinpt of the faid goods, and the fale, or diipofal of them, to the right, <bc. II. Tranfaftions of trade, or cafes of the Waftebook, are alfo made up of two parts, which belong to different accompts, and to oppofite fides of the Ledger: e. g. If goods are bought for ready money,- the two parts are, the goods received, and the money delivered ; the former of which goes to the left fide of the accompt of faid goods, and the latter to the right fide of the Ca(h-accompt. HI. Thefe two different parts, in cafes of the Waftebook, are not oppofed to one another, as the two fides of the Ledger-accompts are ; but, on the contrary, have

a mutual connexion and dependence, the one being the ground, condition, or caufe of the other. Thus, in the preceding example, when goods are bought for ready money, the receipt of the goods is the caufe of parting with the money; and, on the other hand, the delivering of the money is the condition on which the goods are received. From thefe three obfervations, it is plain, that, in order to poft a cafe of the Wafte-book to the Ledger, the firft thing the accotaptant muft do, is, to divide the cafe into its, parts, and then to think with himfelf, to which accompt, and to what fide, each of thefe parts is to be carried ; and when the entry is adhially made, the conneftion of the parts with one another muft be expreffed in each of the accompts to which they are tranfported. Now, fince in fpeaking and writing things muft have names whereby they may be expfeffed and written, it is neceffary that two words or terms be contrived, and appropriated to thefe two different parts, that have the fame relation to one another as the parts themfelves have, which may at once charafterrfe and diftinguifli the parts from one another, point out and afceftain to what fide of the Ledger each of them is to be carried, and withal exprefs their relation to, and dependence upon one another. The Italians at firft for this purpofe pitched upon the terms