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Ans. { 1892 miles opposite directions.

apart at the end of 19 days, and how far if they travel in contrary directions ?

76

1292 . 50. In a certain orchard, † of the trees bear apo ples, 1 of the trees bear peaches, of them plums, 120 of them cherries, and 80 of them pears : how many trees are there in the orchard ?

Ans. 2400.

APPENDIX.

RELATING TO BUSINESS.

FORMS OF ORDERS.

Messrs. M. JAMES & Co.

Please pay John Thompson, or order, five hundred dollars, and place the same to my account.

PETER WORTHY. New York, June 1, 1833.

MR. JOSEPH Rich,

Please

pay the bearer sixty-one dollars and twenty cents, in goods from your store, and charge the same to the account of your

Obedient Servant,

John PARSONS. New York, July 1, 1833.

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FORMS OF RECEIPTS.

Receipt for Money on Account. Roceived, New York, June 24, 1833, of John Ward, sirty s on account.

J. P. Fara

mulceipt for Money on a Note. Received New York, June 5, 1833, of Leonard Walsh, six hundred and forty dollars, on his note for one thousand dollars, dated Now York, January 1, 1833. $640,00.

J. N. WEEKS.

FORMS OF NOTES.

Negotiable Note. No. 1. $25,50.

New York, May 1, 1833. For value received I promise to pay, on demand, Ho Abel Bond, or order, twenty-five dollars and fifty cents.

REUBEN HOLMrs.

Note Payable to Bearer. No. 2. 8875,39.

New York, May 2, 1833. For value roceived, I promise to pay, six months after date, to John Johns, or bearer, eight hundred and sev. 'enty-five dollars and thirty-nine cents.

PIERCE PENNY.

Note by two Persons. No. 3. $659,27.

New York, June 2, 1833. For value received, we, jointly and severally, promise to pay to Richard Ricks, or order, on demand, six hundred and fifty-nine dollars and twenty-soven cents.

Enos ALLAN,
JOHN ALLAN.

Note Payable at a Bank. No. 4. $20,25.

Sixty days after date, I promise to pay John An. derson, or order, at the Bank of the United States, twenty dollars and twenty.five cents, for valuo received.

JEBBE STOKEL

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Remerka relating 1. The person who signs a note, is called the drawer or maker of the note: thus, Reuben Holmes is the drawer of note No. 1.

2. The person who has the rightful possession of a note, is called the holder of the note.

3. A note is said to be negotiable when it is made payable to A B, or order, (See No. 1.) Now if Abel Bond to whom this note is made payable, writes his name on the back of it, he is said to endorse the note, and he is called the endorser; and when the note becomes due, the holder must first demand payment of the maker, Reuben Holmes, and if he declines paying it, the holder may then require payment of Abel Bond, the endorser.

4. If the note is made payable to A B, or bearer, then the drawer alone is responsible, and he must pay to any person who holds the note.

5. The time at which a note is to be paid should always be named, but if no time is specified, the drawer must pay when required to do so, and the note will draw interest after the payment is demanded.

6. When a note, payable at a future day, becomes due, it will draw interest, though no mention is made of interest.

7. In each of the States there is a rate of interest estab. lished by law, which is called the legal interest, and when no rate is specified, the note will always draw legal interest. If a rate higher than legal interest be taken, the drawer, in most of the States, is not bound to pay the note.

8. If two persons jointly and severally give their note, (See No. 3) it may be collected of either of them.

9. The words "For value received,” should be expressed in every note.

10. When a note is given, payable on a fixed day, and in a specific article, as in wheat or rye, payment must be offered at the specified time, and if it is not, the holder can demand the value in money.

1

203

A PRACTICAL SYSTEM

OF

BOOK KEEPING.

Persons transacting business find it necessary to writo down the articles bought or sold, together with their prices and the names of the persons with whom the bargains are made.

Book KeĖPING is the method of recording such transactions' in a regular manner. It is divided into two kinds, called Single Entry and Double Entry. The method by Single Entry is the most simple, and answers for all common busi. ness. This method we will explain.

Book Keeping by Single Entry requires two books, a Day Book and a Leger; and when cash sales are extensive, an additional book is necessary, which is called a Cash Book.

DAY BOOK. This book should contain a full history of the business transactions, in the precise order in which they may have occurred.

The transfer of an account from the Day Book to the Le. ger, is called posting the account.

Each page of the Day Book should be ruled with two col. umns on the right hand of the page, one for dollars, and one for cents, and one column on the left hand for entering the page of the Leger on which the account may be posted.

The Day Book should begin with the name of the owner, and place of residence ; and then should follow a full ac. count of the transactions in business in the exact order in which they may have occurred.

The name of the person, or customer, is first written with the term Dr. or Cr. opposite, according as he becomes a debtor or creditor by the transaction.

Generally, the person who receives is Debtor, and the per son who parts with his property is the Creditor.

Thus, if I sell goods to A B, on credit, he becomes

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