Received from Jackson & Co. their note for $214.00 without interest, payable in 30 days, in full settlement of account. --Nov. 6-- Received from David Newman his note for $650.00 with interest at 6%, payable in 30 days, in settlement of account. We discounted this note at First National Bank. --Nov. 7-- Paid our note given Oct. 6, to National Spice Co., amount $150.00 with interest at 6%. This note was paid by check #11 to Mechanics Bank. --Nov. 8-- Bought from Valley Mills on our note for 30 days with interest at 6%, 100 bbls. flour at $5.25 per bbl. --Nov. 9-- Discounted our note for $1,000.00, 30 days, at First National Bank. --Dec. 6-- Jackson & Co., paid their note due to-day, $214.00. --Dec. 6-- David Newman paid $300.00 on his note due to-day. Gave new note for balance due, payable in 30 days with interest at 6%. --Dec. 8-- Paid our note to Valley Mills by check #11. --Dec. 9-- Paid $500.00 on our note to First National Bank by check #12. Gave new note for $500 payable in 30 days, interest at 6%. --Dec. 9-- Andrew White paid sight draft, $42.60, through First National Bank, exchange $.10. --Dec. 9-- J. D. Jenks accepted our 30-day draft for $140.00, which we discounted at First National Bank at 6%. --Dec. 10-- Accepted a 30-day draft for $75.00 drawn by Eastern Woodenware Co. --Dec. 11-- Gave First National Bank our check for $90.00 to pay 60-day draft of Farwell & Graves accepted by us Oct. 11. --Dec. 12-- Gave First National Bank our check for $41.00 to pay sight draft of Dun & Co. [Illustration: ACCOUNTING DEPARTMENT, SWIFT & COMPANY, CHICAGO] SINGLE PROPRIETOR'S AND PARTNER'S ACCOUNTS RETAIL BUSINESS =1.= In this section we demonstrate complete sets of books for a retail business, showing every necessary step in bookkeeping from the opening of the business. The first set represents a small business in which the simplest methods are adequate. The business is owned by a single proprietor who opens a retail grocery store. =2. Opening the Books.= Remembering that bookkeeping is the art of recording the transactions of a business, the first thing to be done is to make the proper opening entry of the books. Being the opening entry, it should record the first fact of importance, which is that the business has been opened. Since bookkeeping should exhibit the exact financial standing of the business, the next step will be a complete statement of assets and liabilities. It is customary to make this opening entry on the first page of the journal. The entry should be a plain statement of facts which can be readily understood by anyone.