This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1863 Excerpt: ...' The master of n vessel, boat, or other public vehicle, is hold responsible for the safe delivery of goods as entered on his Bill of Lading. if the quantity falls short, he must make good the deficiency, and, on the other hand, if it overruns, custom allows him to appropriate the cxccss. In this case we pay the ...
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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1863 Excerpt: ...' The master of n vessel, boat, or other public vehicle, is hold responsible for the safe delivery of goods as entered on his Bill of Lading. if the quantity falls short, he must make good the deficiency, and, on the other hand, if it overruns, custom allows him to appropriate the cxccss. In this case we pay the captain the regular market price for 6 bush. over, and charge the same to the owners. 1' in ordinary canes, we should scarcely deem it necessary to open an account with a consignor, when we remit him his net proceeds in cash: but, as we must enter the cash in the Cush Book, and post it from thence to the Ledger. we are obliged to make of this a neutralizing entry, the some an we do of Transportation. We therefore credit. the consignor for his net proceed! 'rem the Sales Book, and debit him for the remittance from the Cash Book. ' $ It is customary for connignorn to draw against their consignments, making the draft payable for enough ahead to allow the consignee to realize on the property before the draft matures. There is no risk in accepting n draft when we have suilicient property belonging to the drawer. in this case, the "over" in not dlneoyered until the property is inspected, and is not therefore claimed by the transporter. We simply add it lo the number already entered, and give the consignor the benefit. I If the student will carefully examine his Sales Book, he will discover that these amounts, comprised in the total amount carried to the i edger an "other sales" (than cash) for the month, he will sec that I corresponding debit for uch one in thn lhnpe of a personal account has been already posted; and, of course, if this credit to Sales were omitted, the Ledger would fail thus much of balancing...
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