an individual is charged with articles delivered to him, he is a debtor for the amount of them, and against his name on the Day-book, "DR." is written to designate him as debtor. When such individual delivers articles to be allowed him on his account, he is said to be a creditor, and "CR." is written against his name on the Day-book, to designate that he is credited with such articles.

THE LEDGER.

The Ledger is a book to which the accounts entered on the Day-book are transferred from time to time, in order that each man's whole account may appear by itself. All articles for which he is debtor are usually entered on the left-hand side of the page, and all articles for which he is creditor are entered on the right-hand side of the page.

The date of the charge, and the amount in dollars and cents, are entered in the same manner as on the Day-book; but where there are a number of charges of different articles made under one date on the Day-book, they are usually entered upon the Ledger as Sundries," which is a general term for a variety of articles; and the total amount of all such articles charged on any one day, is carried out against such entry in dollars and cents.

66

When a charge is posted from the Day-book to the Ledger, a bracket, or other mark, is made on the left of the charge on the Day-book, to denote that it has been transferred to the Ledger.

When the account is to be settled, the sum requisite to balance the same is ascertained, and cash, or a note, is given, which is entered upon the book, and the account is thus made equal. Traders and mechanics most usually give receipted bills of their accounts on settlement. In some instances, a settlement is written at the bottom of the account, as follows:Settled and balanced all accounts to this date," which is signed by the parties.

The student should be required to complete posting the above accounts from the Day-book.

To each Ledger there is an Alphabet, or Index of Names, consisting of a small book with the letters of the alphabet pasted upon the leaves, so that each man's name can be readily found by turning to the leaf marked by the first letter of his sirname.

G

Knowles Michael

Ramsay Amos......... 18
11 Rollins Zenas.... ... 20

L
Leeds William........ 12
M

Mason Joel........ 13
M'Farland Asa ........................ 13

N

Newton John........ 14

S
Stephenson Joel...... 21
Silvers John....
Styles Timothy ........ 23

T

.. 22

Trueworthy James..... 24
W

Grosvenor Jacob...
........ 7 Nelson John.......... 15 Wyndham Augustus... 25

Every person engaged in business should take an inventory of his
notes and accounts, his stock in trade, and other property, and of the
debts owed by him, once or twice a year. By comparing this with
former inventories, he will know his gain or loss, from time to time.

Inventory of Stock in Trade, Notes, Accounts, and other Property, taken
from the foregoing example, July 1, 1837.

NOTES, RECEIPTS, ETC.

NOTES.

(1.)

Orford, August 10, 1837.

For value received, I promise to pay to John True, or order, seventy-five dollars fifty cents, on demand, with interest.

Attest: JOEL TRUSTY.

(2.)

JOSEPH DENMAN.

Concord, July 4, 1837.

For value received, I promise to pay to James Doughty, or bearer, ten dollars thirty-four cents, six months after date.

(3.)

[By two persons.]

For value received, we jointly and T., or order, seventeen dollars and with interest.

Attest: TIMOTHY TRUSTY.

For Bank Notes, see "Discount," page 222.

JOHN MORSE.

New Haven, Oct. 6, 1837. severally promise to pay to S. eighty-eight cents, on demand,

ALONZO FONTAINELLE,
JAMES WHITEHEAD.

RECEIPTS.
(1.)

Norwich, June 7, 1837. Received of Mr. Nicholas Jewett, five dollars, in full of all accounts.

HENRY SLOCUM.

(2.)

RECEIPT FOR AN ENDORSEMENT ON A NOTE.

New York, Sept. 9, 1837. Received of Mr. John Hadley, (by the hand of James True,) twenty-five dollars fifty cents, which is endorsed on his note of May 6, 1836. PETER TRUSTY.