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66   BOOKKEEPING Set VII.—D. E.—Grocery and Provision Business.

Special Features.—Continuation of Set VI.; Transactions involving Interest and Discount. Instructions:

(a) Books to be used—Business Papers, Journal (short for Journal Day Book), Cash Book, Bill Book, and Ledger.

(b) Business Papers:

  1. Inward.—Notes on May 13, 15, 21; Cheques on May 11, 28 (drawn on any bank) ; Drafts on May 10, 17, 29.

  2. Outward.—Cheques on May 3, 4, 7, 8, 13, 16, 31; Drafts on May 7, 9, 14, 20 ; Invoices on May 6, 10, 15, 18, 21, 28 ; Deposit Slip on May 1.

(c) Make out business papers, journalize, and write up the Cash Book and Bill Book; post; take a Trial Balance ; take stock ; make Financial Statements ; close the Ledger.

Directory :

Bain, S., St. Mary's, Ont.   Mason, P. & Co., Hamilton, Ont.

Dempster, F., Ingersoll, Ont.   Peterson, D., Galt, Ont.

Mathews, R., St. Mary's, Ont.   Sinclair, F., Guelph, Ont.

Medland, F., Guelph, Ont.   All Others, London, Ont.

Transactions—Set VII.

London, May 1, 19—. Pupil has removed from Guelph to London, and continues the Grocery and Provision Business at # 167 Dundas Street.

2. Engaged H. Jordan as clerk at $40 per month, and B. Davids as bookkeeper at $60 per month.

S. Bain paid his note of the 9th ult. in cash, $100.

3. Drew a cheque on the Scholastic Bank in Guelph for the balance on deposit there, and deposited it in the Scholastic Bank in London.

4. Paid freight to Grand Trunk Railway Co., for moving expenses, cheque $125. (Expense Dr.) Petty Cash sales for the week, $160.

  1. Sold R. Mathews on a/c, 400# Tapioca @ 4c. ; 300# Mixed Nuts @ 14c.

  2. Paid our acceptance of the 24th ult. with cheque, $160.

Drew a draft at 10 days' sight on F. Sinclair in favour of F. Medland, for $100.

8. Bought the Store and Lot we now occupy, from G. Scott for $2100, giving cash $500 and cheque for balance.

Insured Store and contents in the Royal Insurance Co. for $1500 at i% premium : paid premium with cheque. (Expense A/c.)

9. Bought from F. Medland on our acceptance at 10 days, bearing interest at 7% per annum, Mdse. $180, as per Inv. dated to-day.

Paid for Telegram 25c.

10. Sold W. Taylor for cash, less 3% discount, 10 bbls. Mess Pork @ $11 ; 14 bbls. Russet Apples @ $5. (Merchandise Discount A/c. See Sections 87 and 88.)

Sold F. Sinclair for his sight draft on D. Horsman, 25 bbls. Y. Sugar, 240# each, @ 4c. ; 100 bbls. Salt @ 60c.

11. F. Medland settled his note of the 6th ult., giving his cheque for $100, and requesting that the balance be placed to his debit, against what we owe him on a/c. (Is this note duel) Petty Cash sales for the week, $150.

Received a legacy of $500 cash from the estate of John Scott and invested it in the business.


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