SAMPLE TRANSACTIONS
38. The following sample transactions taken from the books of W. B. Clark, Ames, Ia., illustrate the use of the papers and accounts explained in this section, and show how the transactions would appear on the books.
Mr. Clark is a shipper of produce, and a retail dealer in coal. His assets and liabilities are as follows:
| Assets | ||
| Cash in bank | $1,262.78 | |
| Inventory, Produce | 685.00 | |
| " Coal | 747.50 | |
| Geo. White—Open account | 21.00 | |
| F. H. Russel " " | 7.00 | |
| Henry Brown " " | 8.00 | |
| O. L. Duncan—Note due Dec. 1 | 27.00 | $2,758.28 |
| ———— | ||
| Liabilities | ||
| Iowa Coal Co., Des Moines, Open acct. | $120.00 | |
| Lehigh Coal Co., Chicago, Ill., Open acct. | 325.00 | |
| George Hardy, Open account | 60.00 | 505.00 |
| ———— | ||
As he wishes to know how much business he is doing in each department of his business, he keeps accounts in the ledger with both produce and coal instead of one merchandise account. In the sales book, one column is used for coal sales, and one for produce sales. No purchase book is kept, all purchases being posted from the journal or cash book.
