Guarantee or guaranty, definition of, 26 Guaranteed stock, 200 H Honor, definition of, 26 Hypothecate, definition of, 26 I Import, definition of, 26 Income, definition of, 26 Income bonds, definition of, 26 Indemnity, definition of, 26 Indorse, definition of, 26 Indorsee, definition of, 26 Indorsement of checks, 57 Indorser, definition of, 28 Infringe, definition of, 28 Installment, definition of, 28 Installment book, 207 Insolvent, definition of, 28 Instant, definition of, 28 Insurance policy, definition of, 28 Interest, definition of, 28 Inventory, 137 definition of, 28 Investment, definition of, 28 Invoice, definition of, 28 Invoice or bill, 46 J Job lot, definition of, 28 Jobber, definition of, 28 Joint stock, definition of, 28 Joint stock companies, 196 Journal, 45 posting from, 88 Journal vouchers, 283 Journalizing drafts, 113 when we accept draft, 114 when discounting time draft, 114 when we pay an acceptance, 114 when we pay a sight draft, 114 when our sight draft is paid, 113 Journalizing notes, 107 when collected by bank, 107 when discounted, 107 when discounted note is not paid, 109 when note drawing interest is discounted, 108 when note drawing interest is paid, 108 when note is past due, 109 when note is renewed, 110 when our note has been discounted, 111 when paid, 107 when received, 107 when renewed note has been discounted, 110 when we discount our note, 112 when we give or pay note, 111 when we pay for goods with our note, 112 when we pay our note with interest, 112 when we renew a note, 112 when we renew our discounted note, 113 Journalizing, rules for, 82 L Leakage, definition of, 28 Lease, definition of, 28 Ledger, 46 arrangement of accounts in, 91 Ledger accounts, sample, 92, 93 Ledger index, 47 Legal tender, definition of, 28 Lessee, definition of, 28 Letter of advice, definition of, 28 Letter of credit, definition of, 28 Liabilities, definition of, 29 License, definition of, 29 Liquidation, definition of, 29 Loss and gain, definition of, 29 M Maker, definition of, 29 Manifest, definition of, 29 Manufacturing account, 98 Manufacturing and cost accounts, 242 accounts used factory assets, 243 factory expenses, 244 summary accounts, 245 balance ledger, 250 expense inventory, 250 expense liability, 250 manufacturing data, 256 pay-roll records, 248 routine followed, 245 sample transactions, 251 Maturity, definition of, 29 Mercantile agency, definition of, 29 Merchandise, definition of, 29 Merchandise account, 71 Merchandise inventory account, 100 Minute book, 207 Money order, definition of, 29 Monopoly, definition of, 29 Mortgage, definition of, 29 Mortgagor, definition of, 30 N