A Complete System of Practical book Keeping Applicable to All Kinds of Busines

Cover A Complete System of Practical book Keeping Applicable to All Kinds of Busines
A Complete System of Practical book Keeping Applicable to All Kinds of Busines
C Morrison
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When any part of the premium becomes returnable, the Person or Office owing the same is Debited to In- Here it may be observed that the Definition of the Insurance account in the present Set, is different from that in the foregoing Agency Set. There the premiums are put to the Personal debtor as soon as effected ; here these remain at the Insurance account until the Produce insured is sold, or, at all events, till it comes to an issue ; when the Insurance account is credited from the Sales-Book
.... The difference consequently of the Insurance account in the present Set, is the sums owing you for premiums, not accounted for in the Sales. This method must be adopted, when the Employer wishes every charge on the Sales to come from them. See Remarks on Ledger, Set IV. Insurance account.
102 ^SRYiiy^TRANS ACTIONS FOR THE DAY-BOOK.
20th July, 1827.
Ordered from Robert Manford, Lisbon, 100 Bales Cotton, which he has shipped W the Ann, to London, as W Invoice, being 4712, 500 Reas, Exchange at 59d.


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