Inasmuch as the journal is a book of original entry, and contains entries vitally affecting nearly all sales and purchases, the book should be permanently bound and not of the loose-leaf form. The number of columns must depend somewhat upon the requirements of the particular case, but as a rule at least four columns should be provided, and frequently it is a convenience to have six or more columns. In connection with the accounts for subdivision properties, the columnar form of journal presents advantages so great as to render it practically indispensable for the proper entry of contracts and the entries relating to the cancellation thereof.

It is a common practice in offices handling such properties, to reserve in the journal on the first of each month a page or other appropriate space for each subdivision, inserting merely the heading, e.g.:

Kingslake Contracts ......................................

$........

To Kingslake Purchase ......................

$........

" Kingslake Gain ...........................

From time to time during the month, as contracts are made, they are entered in columnar form, as follows:

Contracts

Purchase

Gain

Dr.

Cr.

Cr.

J. Doe,

182

$250.00

$200.00

$50.00

R. Roe,

183

500.00

400.00

100.00

At the end of the month these columns are added and the totals inserted in the headings.

In the case of cancellations the form of entry may be:

Real Estate.............................. $........

Gain...........................................

To Contracts..................... $........

In this case, four columns would be required.

It is obvious that this form of entry requires less labor, and gives a record better adapted to quick reference, than if each contract were made the subject of a distinct journal entry.