63. Old Style Ledger - Practically Obsolete

The first stage in the evolution of an up-to-date individual ledger system is the old-fashioned ledger, illustrated in Figure 3 on page 30. All deposits are entered on the credit side and all withdrawals on the debit side. In order to prove this ledger, it is necessary to add the two sides, strike the balances and take off a list of them. This ledger has practically nothing to commend itself to an up-to-date bank, as an individual ledger.

William Kelly

Date

Debit

Credit

Balance

Days

Aggregate

Interest

April

1

1

000

"

5

500

1

500

5

5

000

"

8

250

1

250

3

4

500

"

13

125

1

125

5

6

300

"

14

275

1

400

1

1

100

"

25

500

1

900

11

15

400

"

27

300

1

600

2

3

800

"

28

178

50

1

778

50

1

1

6OO

"

29

200

1

578

50

1

1

800

"

30

50

1

528

50

1

1

500

"

30

2

28

1

530

78

30

41

000

2

28

Figure 46. Interest Ledger.