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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.