65. Inventory Adjustment. An account used for the temporary adjustment of inventories of finished stock, for the purpose of obtaining monthly statements of gross profits. At the end of the fiscal year, the balance of the account is transferred to inventory of finished goods account, through the trading account.
Accounts 63 to 65, inclusive, are closed into a harness trading account, at the end of the fiscal year. For purposes of comparison, monthly trading statements are made, leaving these accounts undisturbed until the end of the year.
Accounts 66 to 68, inclusive, and 69 to 71, inclusive, are handled exactly the same manner, in relation to the collar and saddlery departments.
72. Interest Credits. Credited with all interest collected on past due accounts, or received on outside investments.
73. Cash Discount Credits. Credited with all discounts earned by the prepayment of bills.
74. Rent Credits. Credited with all amounts received from rentals of property owned by the company, or as a result of subletting leased property.
75. Insurance and Taxes. Charged with all sums paid for fire, liability or other insurance, state and municipal taxes, and license fees.
76. Salaries—Officers. Charged with the salaries of all administrative officers, and directors' fees.
77. Salaries—Bookkeeper and Clerks. Charged with amounts of salaries of all bookkeepers, stenographers, and other office clerks.
78. Printing and Stationery. Charged with the cost of all stationery and printed matter used in the offices.