(n) This amount represents the estimated discounts to be allowed on accounts owing by customers according to the Sales Ledger. Observe that there is a Dr. balance as well as a Cr. balance to Discounts Account.

(0) These accounts are supposed not to be delivered at the date when the Balance Sheet is prepared, but are estimated and taken into account as liabilities.

For convenience of reference the description of the several books

is placed after the accounts.

The books employed in Set 1 are as follows, viz :-

Many of the printed headings of the separate books of entry may be omitted in practice.

(p) Each individual entry in this book is posted to the Cr. of its respective account in the Purchases Ledger.

1

RETURNS & CLAIMS (Purchases) DAY BOOK (q).

January, 1884

1 Pur

(q) Each individual entry in this book is posted to the Dr. of its respective account in the Purchases Ledger.

(r) These numbers relate to Invoices of the preceding year.

(8) Each individual entry in this book is posted to the Dr. of its respective account in the Sales Ledger.