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Trial Balance, (Art 26,) March 27th, 1851.

Face of the Ledger before Balancing the Accounts.

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may be, or through whatever channels or accounts they may arise, they will affect both parts of the Balance Sheet to the same amount.

4. If the Student thoroughly understands every step which he has passed over, and can give all the rules, suggestions, cautions, and references, with ease and accuracy, he can then transfer the Original Entries (p. 12) for the months of January, February, and March, to his own Day-Book, having nothing more to do with the Journal. The next step is to Post them according to the directions previously laid down. Having completed these three months after the models in the book, the Student will pass on to the months which follow, in a similar manner, observing the directions and references which accompany each.

The First Part exhibits the Face of the Ledger after Balancing, and also the Present Worth, as exemplified from Estate Accounts, and from goods unsold in Gain & Loss Accounts (Note p. 12) (Art. 40).

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The Second Part exhibits our Present Worth as exemplified from Gain & Loss Accounts (Art. 1, 40).

Dr.

Second Part.

Cr.

Ledger Titles. p. Lofses. Ledger Titles. p. Gains.

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41. In performing the Exercises for this month, the Student will carefully observe the following directions:

1. Examine every entry for the month by the aid of the references, and determine how each one should be Posted;

2. Recite this lesson with great facility, giving general rules for Posting, which shall include the several entries under consideration (Art. 24);

3. Post the several entries for the month according to the references (Art. 33, 31);

4. Test the accuracy of your Posting (Art. 26);

5. Credit each account with the value of its goods unsold (Art. 28);

6. Balance all the accounts opened in the Ledger (Art. 22, 13, 29);

7. Take a Balance Sheet (Art. 23).

NOTE-If we sometimes seem to hurry through with the transactions of a period, it will be overlooked, since our principal object is to secure a practical acquaintance with the whole routine of opening, conducting, and closing

accounts.

Articles.

3 & 7

April 1, 1851.

(Art. 41.)

Sold goods to James Calkings, and re-
ceived his Note at 90 days..

3

3 x 9 Bought Mdse. of Wm. Page, at 60 days

credit

5

Sold a quantity of goods to J. L. Jackson,

3 & 9

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275 60

865 90

470 25

983 40

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and paid for the same as follows:

Articles.

8 Gave my own Note at 3 months for.
4 Paid the Balance in Cash.

8

The Mer. Bank has discounted I. Smith's

me when business commenced

Note held by

7 Face of the Note

500

251 20

349 25

9 20 340 05

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3 Sold goods to the amount of..

8

12&18

In Payment received my own Note dated
April 7, 1851.

was allowed discount

4 Paid the balance in Cash..

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19 50

400

500

15

85

250

on Acct

300

3 & 9 Sold Mdse. to Wm. Page

17

Exchanged James Calkins Note, payable
July 2, 1851, for Samuel Long's Note,
for the same amount, payable

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I allowed discount, Cash payment, on the
exchange of the Notes......

19

Sold goods to Williams & Co. amounting

4 Received, in payment, Cash

7 Their Note at 6 mos. for the balance

275 60

500

300

200

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Bought three Lots on Third Avenue, in
New-York City, amounting to.

I gave my own Note at 3

11

8

In payment I

months.

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200 35

300

1800

650

900

200

11 20

61 20

65

800

-

300

150

350

3 Sold Mdse. to Wm. Page amounting to
Received in payment John Thompson's
Note at 60 days, for.

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Sidney Brown's Note, endorsed by James
Henry, and due June 1st, 1851-

300

200

100

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