@ To or At a/c Account B/L Bill of Lading B/R Bills Receivable or Bill Rendered B/P Bills Payable B/S Bill of Sale ¢ Cents c/o Care of D/D Days after date D/S Days after sight F/B Free on board J/A Joint Account L/C Letter of Credit L/M Letters of Marque £ Pounds Sterling o/c On account o/c Out of courtesy % Per cent p Per $ Dollars # Number, if written before a figure, as #25; Pounds, if written after, as 25# [check mark] Check Mark " Ditto ° Degrees ' Prime; Minute; Feet " Seconds; Inches; also used as Ditto marks 1¹ One and one-fourth 1² One and one-half 1³ One and three-fourths + Plus - Minus × By or times ÷ Divided by = Equals DEFINITION AND OBJECTS OF BOOKKEEPING 1. Bookkeeping is the art of recording the transactions of a business in a manner that makes it possible to determine the accuracy of the records. The objects of bookkeeping are: (_a_) To exhibit a record of the separate transactions of a business. (_b_) To furnish statistical information in respect to any particular class of transactions. (_c_) To exhibit the financial standing or condition of a business. When properly assembled the bookkeeping records become _accounts_ (for definition, see Dictionary of Commercial Terms). If correct methods are used, the bookkeeping records will be assembled or grouped in a manner to show their exact nature and their bearing on the status of the business, or the standing of the account. =2. Debit.= The term _debit_ designates those items in an account representing values with which we have parted, or transferred to another person or account. Debits are always placed on the left side (or in the left-hand column) of an account. Debits to persons are of the following classes: (_a_) The transfer of merchandise. (_b_) The rendering of services. (_c_) The use of something of value. _Examples_-- (_a_) We sell to John Doe two tons of coal at $7.50 per ton. We _debit_ his account with the amount. (_b_) We render services to Thos. Ryan for which he is to pay us a stated fee. We _debit_ his account with the amount of the fee. (_c_) We are to pay rent for the use of our offices. Our landlord _debits_ us with the amount. =3. Credit.= The term _credit_ designates those items in an account representing value which we have received or which has been transferred to us. Credits are always placed on the right side (or in the right-hand column) of an account. Credits to persons are of the following classes: