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NOTE.-If the above balance were paid in full May 1, the words "Received Payment" would be written.

JOSEPH HORNE Co.,

Per

It is customary for the creditor to send an itemized account to the debtor. If it is not paid, another form of bill called a statement is sent and contains only these words: "To account rendered" or "To Mdse." followed by the amount.

In the above account, what shows that there was a previous transaction?

Render the following statements:

1. Jan. 31, 1906, the debits and credits of George Weil in account with John Wanamaker, Philadelphia, Pa., were as follows:

DEBITS

Jan. 1, To account rendered, $295.63,
Jan. 7, To 3 overcoats @ $32,

Jan. 12, To 7 yd. dress goods @ $4.75,
Jan. 20, To 1 suite of furniture, $185.

CREDITS

Jan. 5, By cash, $250,

Jan. 20, By note for 30 days, $200.

Find balance due Wanamaker.

2. Nov. 30, 1905, the debits and credits of R. D. McClurg, with Stevenson & Co., Richmond, Va., were as follows:

DEBITS

Nov. 1, To account rendered, $86.25,

Nov. 10, To 12 cases corn @ $1.65,

Nov. 19, To 4 bbl. sugar, 1692 lb., @ 44¢,

Nov. 22, To 75 lb. dry beef at 19.

CREDITS

Nov. 5, By cash, $85,

Nov. 30, By note for balance due.

3. On Oct. 31, the account of Wm. B. Eager with H. A. Soltori, New York, was as follows:

DEBITS

Oct. 2, To mdse., $93.37,
Oct. 8, To mdse., $107.92,
Oct. 21, To mdse., $21.58.

CREDITS

Oct. 10, By cash, $80,
Oct. 20, By 30-day note, $100.
Oct. 31, By cash, $25.

LEDGER ACCOUNTS

The orders or payments when received by a firm are first put in a day book in the order of their arrival. Each person's or firm's business is then placed in a book called the ledger, which is ordinarily balanced each month or when an account is paid.

A ledger account is headed by the name of the person and arranged so that the purchases appear on the left side as debits, and the payments or services rendered appear on the right side as credits.

The statement of account as given on page 95 is simply a copy of Mr. Bond's ledger account with Joseph Horne Co.

The following form shows a balanced ledger account at the close of the month with James Roberts, the balance being brought down to continue the account into the next month.

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1. What debts in this ledger account did Mr. Roberts incur during the month? What payments did he make?

*These numbers refer to the pages in the day book in which the accounts are found.

HAM. SCH. ARITH.-7

2. Find the sum of the debits and the sum of the credits. Does the difference equal the balance, $38.75 ?

3. Is the balance in favor of, or against Mr. Roberts?

4. Had the balance been in favor of Mr. Roberts, on which side would it have been entered?

5. How do you determine on which side to enter the balance? on which side to bring down the balance?

To foot a ledger is to add and set down (usually in pencil) the total debits and credits of the accounts.

TEST. When the footing of one side equals the footing of the other side, the account is in balance.

Written Work

The day book shows the following sales and receipts. Make a ledger for the year, enter each item, foot and close the accounts.

1. William Stone.

DEBITS.- Feb. 1, cook stove, $22; Feb. 4, 40 lb. nails, $2.40; Feb. 5, heater, $75.70; Feb. 12, tin roofing, $79.08; Feb. 19, hardware, $14; Feb. 23, lime and cement, $50.70; Feb. 28, tile, $22.

CREDITS.

Feb. 1, sand, $15; Feb. 4, drayage, $9.50; Feb. 12, cash, $50; Feb. 16, lumber, $74.25: Feb. 25, cash, $20; Feb. 28, cash, $105.

2. Morris Brown & Co.

DEBITS.—Apr. 4, mdse., $15.90; Apr. 5, lumber, $190.72; Apr. 11, mdse., $23.15; Apr. 12, wagon, $90; Apr. 27, mdse., $20.70; surrey, $129.70; May 7, mdse., $40.05; May 12, cash, $100; May 20, lumber, $189.

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CREDITS. Apr. 10, labor, $129.71; Apr. 14, cash, $ 75 ; Apr. 21, labor, $29.70; Apr. 28, cash, $147; May 7, labor, $270.10; May 19, stone work, $175.39; May 28, cash, $70.

DENOMINATE NUMBERS

We measure the quantity of anything by finding how many times it contains some unit of the same kind, called the unit of measure.

Thus, the number of bushels in a load of apples is found by seeing how many times it contains the unit of measure, 1 bushel.

A denominate number is a concrete number whose unit is a measure established by custom or law; as, 5 yards or 8 bushels. In these numbers 1 yard and 1 bushel are the units of measure.

A simple denominate number is a number of one denomination; as, 3 feet, 5 pecks.

A compound denominate number is a number composed of two or more denominations that express one quantity; as 8 yards, 2 feet, 3 inches (length).

REDUCTION

Reduction of denominate numbers is changing their form without changing their value; thus,

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1. Review thoroughly these tables: Liquid Measures; Dry Measures; Measures of Length; Avoirdupois Weight; Troy Weight; Time Measures; Stationers Measures;

Counting.

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NOTE. The other tables of denominate numbers are found on pages 345 to 348.

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