Modern Banking Methods As Applied to the Tellers And Bookkeepers

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S. Gold. His records should at all times show the balance to the debit of each foreign account in terms both of foreign currency and of U. S. Gold. All debits and credits to foreign accounts must specify the amount in U. S. Gold and in foreign currency.
66 Modern Banking Methods The amounts in U. S. Gold are listed on the blotters, in the Inter- ior Proving department's records and in the bookkeepers' Daily Check Proof; both the U. S. Gold amounts and the foreign cur- rency are listed in the le
...dger. A credit to London for a 10/0/0 Stg. Draft sold @ 4. 85^ would be recorded in the U. S. Gold credit column of the ledger as $48. 55 and in the Sterling credit column as 10/0/0; a debit for 10/0/0 Stg. @ 4. 85 would be recorded in the U. S. Gold debit column as $48. 50 and in the Sterling debit column as 10/0/0. The total amount due from London appears on the books of the depositing bank as a debit balance. These two 10/0/0 transactions result in a decrease of 5c in the U. S. Gold debit balance but cause no change in the Sterling balance.

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