JAN. 22.-Received of E. M. Wardner, to balance account of Jan. 4th, cash, $30, and his note at 30 days, with interest, $100. (Enter note in bill book.)

Received of Mrs. E. Leary $15, to apply on account.

Cash sales of merchandise, as per cash drawer, $62.
Received of Edward Strang $50, to apply on account.

Sold Emma Sheridan 1 parlor set, silk brocatel, $75; 2 card tables at $2 50, 2 mirrors at $3.

JAN. 23.-Hunter & Allison returned 10 cane seated chairs at $1.

Bought of E. F. Higgins & Co. furniture as per invoice, $235.75.
Paid freight on above invoice, $11.75.

JAN. 24.-Accepted E. F. Higgins & Co's draft at 30 days for amount of invoice of Jan. 10th, $498.75. (Journal and bill book.)

Sold C. H. Stratton & Co., on account, 5 oak bedroom sets at $35; I carved sideboard, $80; 6 card tables at $3.

JAN. 25.-Have C. H. Stratton's note of Jan. 15th discounted at the bank, and receive cash for the proceeds. Face of note, $385; discount, 50 days. (Enter the net proceeds in cash book and mark the note paid in bill book.)

4

Sold E. M. Wardner, on account, 1 library desk, $60; 1 revolving book case, $22.50; I revolving chair, $8.

Bought of the Phillips Chair Co. merchandise as per invoice, $192.85.

Paid freight on above invoice, $9.65.

JAN. 26.-Paid Lansing & Bros. for invoice of the 19th, less 5%. (Journal and cash book.)

Cash sales of merchandise, as per cash drawer, $84.60.

JAN. 27.-Received of Hunter & Allison, to balance account of the 20th, cash, $40, and their note at 4 mos., with interest.

Sold Edward Strang, on account, 6 dining chairs at $2.50; 1 pillar extension table, $18; 1 writing table, $6.50. Received on account, $50.

Balance your cash book

JAN. 29.-Sold Richard Vose, on account, I Morris chair, leather, $20; I rattan rocker, $7.50. Received $50, to apply on account.

Returned to the Phillips Chair Co. 24 cane seated chairs at $1; 6 rockers at $2. These goods were not as ordered.

Cash sales of merchandise, as per cash drawer, $91.40.

JAN. 30.-Paid Phillips Chair Co. for invoice of Jan. 20th, less 5%, $232.51. (Journal and cash book.)

Bought of Lansing & Bros., 4 mos., 5% 10 days, merchandise as per invoice, $498.70, freight prepaid.

Received of H. M. Preston, on account, $75.

Sold Morris Chaney, on account, I office desk, roll top, $40; 1 office chair, $6.50.

JAN. 31.-Paid clerk hire to date, $30.

Cash sales, as per cash drawer, $62.87.

Sold Mrs. E. Leary 1 parlor set, $55; 1 beveled mirror, $6.50. Received, to apply on account, cash, $25.

After entering the preceding transactions in your journal and cash book, balance your cash book, and hand it with the journal to your teacher for inspection before posting. After your journal and cash book have been approved, post from the journal to your ledger. Since there is no equality of debits and credits in the journal, of course no trial balance can be taken.

Your inventory shows merchandise on hand, valued at $5040.75; horse and delivery wagon, valued at $275; office furniture, fixtures and books, valued at $275; 11 months' unexpired premium on insurance policy, valued at $27.50.

Find from your ledger the amounts due from personal accounts; from your bill book, the value of notes on hand, also the notes outstanding. From your ledger find the balances due from you to other firms, and using the model on page 198, prepare a statement of resources and liabilities. Your present worth should be $3799.32. Compare this with your investment, and find your gain or loss for the month's work.

PARTNERSHIP AGREEMENT.

ARTICLES OF AGREEMENT, made the first day of July, 190-, between Emerson W. Benton and Chas. M. Pelton, both of the city and county of Worcester, and state of Massachusetts, witnesseth as follows:

First. The parties above named have agreed to become copartners together, and by these presents do agree to become partners under the firm name of E. W. Benton & Co., for the purpose of carrying on a commission, shipping and general merchandising business, in the said city of Worcester and state of Massachusetts, from the date of this agreement until such time as the partnership may be legally dissolved.

Second. The said Emerson W. Benton, of the first part, shall contribute the resources of his late business located at #242 South St., as shown by bill of sale executed under even date, less his liabilities, which are to be assumed by the new firm and paid as they become due, making a net investment of Seven Thousand Four Hundred Dollars ($7400). The said Chas. M. Pelton, of the second part, shall contribute cash, $4000, and a shipment of merchandise now in the hands of Geo. M. Howe & Co., of Boston, Mass., invoiced at $2685.75, making a total investment of Six Thousand Six Hundred Eighty-five Dollars and Seventy-five Cents ($6685.75.)

Third. During the continuance of this agreement, the said Emerson W. Benton and the said Chas. M. Pelton shall each give his entire time to the business in which they, by this agreement, become partners.

Fourth. Each partner shall receive interest upon his net investment at the rate of six per cent., the said interest to be deducted from the profits of the business.

Fifth. The gains and losses of the business shall be divided equally between the partners, E. W. Benton and C. M. Pelton.

Sixth. The said E. W. Benton shall attend to the buying and selling of goods and the general management of the store, while the said C. M. Pelton shall have full charge of the books, and shall sign all checks and other negotiable paper of the firm.

IN WITNESS WHEREOF, the parties hereto have hereunto set their hands and seals in duplicate the day and year first above written.

EMERSON W. BENTON.

CHARLES M. PELTON.

DISSOLUTION OF PARTNERSHIP,

In case of a dissolution of partnership, it is customary to send a notice of such dissolution, with the conditions attending it, to each person with whom the firm has had dealings, and also to publish this notice in the newspapers of the city or town in which the firm has conducted its business.

In case of special agreement between the partners regarding the indebtedness of any person, such as occurs in regard to the shipment to T. W. Bowen & Co. at the close of June, the party interested should receive a special notice of such agreement signed by both partners.

NOTICE OF DISSOLUTION OF PARTNERSHIP.

You are hereby notified that the copartnership heretofore existing between H. F. Adams and E. C. Mills under the firm name of H. F. Adams & Co., at Albany, N. Y., is this day dissolved. Accounts due the firm are to be paid to H. F. Adams, and all claims against the firm should be presented to him for payment when due.

Dated Albany, N. Y., June 30, 190-.

H. F. ADAMS.

E. C. MILLS.

BILL OF SALE.

KNOW ALL MEN BY THESE PRESENTS, that I, E. H. Reed, of the city of Worcester, county of Worcester, and state of Massachusetts, of the first part, in consideration of the sum of $6955 to me in hand paid by E. H. Reed & Co., of the county and state aforesaid, parties of the second part, the receipt of which is hereby acknowledged, have bargained and sold, and by these presents do grant and convey unto the said parties of the second part all of the resources of my late business conducted at #312 South St., as follows: real estate, valued at $9500; merchandise, as per schedule, valued at $916.55; horses and wagon, valued at $325; furniture and fixtures, valued at $250; also the following balances of accounts due, as per ledger: Theodore Crosby & Co., $129.33; A. W. Noone & Co., $528.44; Public Market Co., $244.60; Geo. H. Tucker & Co., $204.13; City Hotel Co., $250.45; a total of $12348.50; on condition that the said firm of E. H. Reed & Co. shall assume the liabilities of the late business of E. H. Reed, as follows: note in favor of Fischer Flour Co., $845.27, dated June 16th at 30 days, and the following balances of accounts, as per ledger: Russell & Birkett, $426.45; Curtice, Olney & Co., $1326.40; Lutz Bros., $714.50; Gillette & Hennigan, $541.20; a total of $3853.82.

TO HAVE AND TO HOLD the same unto the said parties of the second part and their legal representatives forever.

IN WITNESS WHEREOF, I have hereunto set my hand and seal this 16th day of July, in the year of our Lord one thousand nine hundred and

ARTICLES OF COPARTNERSHIP.

E. H. REED.

ARTICLES OF COPARTNERSHIP, made this first day of August, 190-, between Mason L. Decker and Thomas J. Sullivan, of the firm of Decker & Sullivan, of the first part, and Wm. B. Jennings, of the second part, all of the city of Rochester, county of Monroe, and state of New York, witnesseth as follows:

The parties hereunto, having mutual confidence in each other, do this day form with each other a copartnership, under the firm name of Decker, Sullivan & Co., for the purpose of conducting a wholesale dry goods business at #242 E. Main St. Rochester, N. Y., under the following terms and conditions, to commence at the date above mentioned and to continue for five years, or until dissolved by mutual agreement.

First. The said parties of the first part shall contribute the resources of their late business, located at #242 E. Main St., as per bill of sale executed under even date herewith, less the liabilities, which are to be paid by the new firm, making a net investment of Forty Thousand Six Hundred Sixty-one Dollars and Ninety-four Cents ($40661.94),

each partner's share of said investment being shown by his account in the ledger of Decker & Sullivan. The said party of the second part shall invest Twenty-five Hundred Dollars ($2500) cash.

Second. At all times during the continuance of their copartnership each partner shall give his full time, and use his best endeavors, and to the utmost of his power exert himself for the joint interest, profit, benefit, and advantage of the copartnership.

Third. Mason L. Decker shall receive a salary of One Hundred Fifty Dollars ($150) per month, Thomas J. Sullivan shall receive a salary of One Hundred Twenty-five Dollars ($125) per month, and Wm. B. Jennings shall receive a salary of One Hundred Seventyfive Dollars ($175) per month. These salaries may be drawn from the funds of the busi

ness on the first day of each month.

Fourth. At the close of each year, or at such date as the books may be closed, each partner shall be charged with interest at six per cent. on such sums as he may have withdrawn from the business for his personal use from the date such sums were drawn until the date of the closing of the books, and each partner shall receive six per cent. interest on his investment for the same period of time.

It is agreed between the parties aforesaid that no member of the firm shall draw to exceed Two Hundred Fifty Dollars ($250) per month for his personal use.

IN WITNESS WHEREOF, the parties hereto have hereunto set their hands and seals in duplicate the day and year first above written.

MASON L. DECKER.

THOMAS J. SULLIVAN.
WM. B. JENNINGS.