_Average_--As applied to accounts, the mean time which bills of different dates have to run, or an average due date for several accounts. Determining the due date is sometimes referred to as averaging accounts. _Balance_--The difference between the debit and credit sides of an account. To close an account by entering the amount on the lesser side necessary to make the two sides balance. _Balance Sheet_--A statement or summary in condensed form made for the purpose of showing the standing or condition of a business. _Balance of Trade_--The balance or difference in value between the imports and exports of a country. _Bale_--The form in which certain commodities are marketed. A bale of cotton, bale of hay, etc. _Bank Balance_--The net amount to the credit of a depositor at the bank. _Bank Note_--A note issued by a bank, payable on demand, which passes for money. _Bank Draft_--An order drawn by one bank on another for the purpose of paying money. _Bank Pass-Book_--A small book furnished to a depositor by his bank, in which are entered the amounts of deposits and sometimes the checks or withdrawals. _Bankrupt_--A person, firm, or corporation whose liabilities exceed their assets; who are unable to meet their obligations. _Bill_--A statement or record of goods bought or sold, or of services rendered. [Illustration: Bill] _Bill of Exchange_--An order on a given person or bank to pay a specified amount to the person and at the time named in the bill. The term is more commonly used to apply to orders on another country, being made in triplicate. _Bill of Lading_--A receipt issued by the representative of a common carrier, for goods accepted for transportation to a specified point and at a given rate. It is a contract, and, when transferred to a third party, becomes an absolute title to the goods. [Illustration: Bill of Lading] _Bill of Sale_--A written document executed by the seller, transferring title to personal property. _Bill Head_--The blank or form on which a bill is made. For illustration, see Bill. [Illustration: Bill of Exchange] _Bills Payable_--Promissory notes and acceptances which we are to pay. _Bills Receivable_--Promissory notes and acceptances which are to be paid to us. _Blanks_--Papers or books ruled or printed in suitable form for business records. _Blotter_--A book in which are entered memoranda of transactions which are later copied into other books. Also known as a _day book_. _Bond_--A written agreement binding a person to do or not to do certain things specified therein. A negotiable instrument secured by mortgage or other security, binding the maker to pay certain sums on specific dates. _Bonded Goods_--Goods stored in a government warehouse, or in bonded cars, bonds having been given by the owner for the payment of import duties or internal revenue taxes when removed.