=28. Bill Book.= For the purpose of keeping a record of bills receivable and bills payable, a book known as a _bill book_ is used. Any draft, note, due bill, or other written promise to pay a specified sum at a stated time, should be treated as a note or bill--receivable or payable, as the case may be. The bill book is an auxiliary book, and the record kept is usually treated as a memorandum only, records of each transaction being made in the journal. The form shown (p. 45) is one in common use. [Illustration] =29. Acceptances.= A draft when accepted--that is, when it becomes an _acceptance_--has the same value as a promissory note, for it is a definite promise to pay on a specified date. Drafts are used for the collection of accounts in other cities than the one in which the creditor's place of business is located. A draft may call for payment a certain number of days after date, or it may call for payment at sight. The former is known as a _time draft_, while the latter is a _sight draft_. =30. Discount and Exchange.= When a promissory note is taken to the bank for the purpose of raising money, it is customary for the banks to calculate the interest for the time the note is to run, and to deduct this from the principal, giving the borrower the net amount only. In other words, the interest is paid in advance, and such advance payment of interest is called _discount_. When a draft is collected through a bank, a small fee is charged, and this fee is called _exchange_. Exchange is also charged for the collection of out-of-town checks, especially if they are drawn on banks in small towns and cities. BANK DEPOSITS =31.= When money is deposited in a bank, a list of the items in the deposit is made on a blank known as a _deposit ticket_ or _deposit slip_. These deposit tickets are furnished by the bank for the convenience of its customers. =32. Signature Card.= Money deposited in a bank can be withdrawn only by presenting a written order or _check_, signed by the one in whose name the money is deposited. That the bank may know that money is not paid on checks that do not bear the correct signature, each depositor is required to leave at the bank the signature or signatures which are to be honored. These signatures are written on a card, known as a _signature card_, which the bank keeps for reference. =33. Check Books.= Blank checks are usually bound in book form, the checks themselves being perforated so that they can be easily removed. These _check books_ are in most cases furnished by the bank. The number of checks on a page varies, but is seldom more than four. When a check is written, the number, date, name, and amount should be written on the face of the stub. To keep a convenient record of the balance in the bank, it is well to enter a list of all checks and deposits on the back of the check stubs. [Illustration: Signature Card]