An Introduction to Merchandise; Containing a Complete System of Arithmetic. a System of Algebra. Forms and Manner of Transacting Bills of Exchange. Book-Keeping in Various Forms. an Account of the Trade of Great Britain, and the Laws and Practices Relating to (Paperback)

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. 1788 Excerpt: ...as it contains the materials from which the other books are.. N composed; and any error or defect will occasion a like one in tlie cithers. Besides, it is the book whole authority is trusted to, and j which must be exhibited to judges, or arbiters, when an accompt "" is disputed. As the journal is filled up from the waste-book, the, authority of the former is esteemed more authentic, unless there rJbt an obvious mistake through hurry; and either of these books is depended on rather than the ledger, which, from its form, is more r liable to error, and may be more easily vitiated by a fraudulent ' design. 4. As the waste-book contains the whole substance os the busiS-ness, it may be applied so as to afford any information that can be wanted: But the labour of consulting it would be very great. For instance, if it were required to know how much any person owes us, we must look over the book from the beginning, and mark down every article in which we have dealt with him: Or, if it were required to know what quantity of goods we should have on " %, hand, we must look over the whole book, and mark down every article bought or sold. This operation would not only be found, _ very tedious, but much exposed to the ri(k of omissions. To prevent these inconveniences, another book is used, in which the articles are arranged in a methodical order. This book is called the Ledger, J Ledger, and we shall consider it next; because the journal, though it comes before it in the order of writing, cannot be well understood, till the nature of the ledger be explained. 5. In the LEDGER articles of the fame kind are collected together: And, for that purpose, it is divided into many accompts, under which the different branches of business arc arrang...