Thus, if you sell Goods to any person on credit, he being the receiver, is Dr. for the value; and when he pays you for them, he being the person who gives, is Cr. By the same rule, the person from whom you purchase Goods on credit, he being the deliverer, is Cr.; and when you pay him for them, he being the receiver, is Dr. The LEDGER* contains an account for every person of whom goods are bought, or to whom goods are sold, on credit; where the articles for which he is accountable to you, and those for which you are accountable to him, are placed on opposite pages, of the same folio: the Dr. articles on the left, and Cr. articles on the right-hand page, in order to shew the state of every person's account at one view.-The difference between the Dr. and Cr. sides is called the Balance of the account. DIRECTIONS FOR POSTING AND BALANCING. To post the Ledger, first open an account for every person occurring in the Day Book, and allot such a space as you may think sufficient for subsequent entries. The Titles of the accounts should be written in a half text hand, and entered in an Index.+ Then debit or credit the person for the amount as stated in the Day-Book: that is, write the date of the entry on the margin, and say To Goods, or Cash; or By Goods or Cash, as the case may be, insert in the folio column the page of the Day-Book from which you are posting, and the sum in the money column. When the space allotted for any person's account is filled up, it must be transferred to another folio. Either the sum or difference of the two sides may be inserted in the new folio. In order to strike a General Balance, take the difference of every account, and collect into one sum the several Balances due to you; to which add the Cash in hand from the Cash-Book, and the value of the Goods unsold taken by an Inventory. From this sum deduct the amount of the several Balances owing by you, and the difference will be your Net Stock, or the clear value of your property. This, compared with your former Stock, will shew the Guin or Loss on the Business since last Balance. Vide the Balance Account in the following Ledger, page 2. Some Shop-keepers have their Ledger ruled with two sets of money columns on the same page; the one for extending the sums of the Dr., and the other for the sums of the Cr. Others, when the business is extensive, keep two Ledgers, one for the Drs. or those to whom they sell, called the Retail Ledger, and the other for the Crs., or those from whom they purchase, called the Wholesale Ledger. The method of entering accounts in an Index, is explained page 30. (1) DAY-BOOK (A). By Single Entry. LONDON, 4th JANUARY, 1809. 1 Joseph Crosby, London, Cr. By Haberdashery, as per Bill of Parcels.. 1 Edward Dunkin, Manchester, Cr. By Amount of Sundry Goods, as per B. P............. 1 George Bernard, London, Dr. To 25 Yards Irish Linen, at 4s. 6d. per yárd...... 1 Miss Gordon, Blackburn, Dr. 1 To 1 pair Black Silk Stockings, at 15s. L.0 15 0 ..14s.... 2 2 -16 William Fenton, London, Dr. To 24 Yards Superfine Cloth, drab, at 20s. 6d... ... . L. 2 ...blue, at 24s. 1 Miss Gordon, Dr. -18 11 3 10 0 To 7 Yards Flowered Silk, at 158.. .... 512 6 * This Column refers to the folio of the Ledger, where each account 2 | Richard Stanley, London, Dr. 3 1 To 1 yards superfine blue Cloth,...at.....23s... .. Lady Derby, Cr. -27 27 2 Henry Rauson, London, Dr. To 15 yards green Baize,......at......2s. 5d.............L,1 16 417 0 8 8 0 |