—13th— Sold to S. H. Allen, Mason City, Ia. 30 men's pants 1.75 52.50 Terms 2/10, N/20 —14th— Paid Adler & Co. Ck. No. 12 303.12 Discount 9.38 —15th— Sold to Marx & Sons, Charles City, Ia. 10 boys' suits 2.00 20.00 10 men's suits 7.00 70.00 ------ Terms 2/10, N/30 90.00 —15th— Received from H. A. Branch Cash 52.50 —15th— Received from Larson & Anderson Cash 78.75 —16th— Paid H. D. Snyder 1 week's salary $37.50 Ck. No. 13 —16th— Paid H. D. Snyder Traveling expenses 17.65 Ck. No. 14 —16th— Deposited cash on hand 131.25 —16th— Paid D. E. Jenkins For cartage on shipments 2.50 Ck. No. 15 EXERCISE 1. Prepare a trial balance of the ledger as it would appear after posting these transactions. 2. Assuming that gross trading profits average the same per cent of selling prices as in former transactions of this business house, find approximate inventory at close of business Feb. 16th. 3. Prepare trading and profit and loss account, based on this inventory. [Illustration: Order and Sales Records ] [Illustration: Order and Sales Records ] [Illustration: Order and Sales Records ] [Illustration: Order and Sales Records ] [Illustration: Departmental Abstract of Sales ] [Illustration: Cash Received Book ] [Illustration: ONE OF THE ELECTRICAL MANUFACTURING PLANTS OF THE FAIRBANKS-MORSE COMPANY ] [Illustration: Check Register and Cash Expenditure Book ] COMMISSION AND BROKERAGE BUSINESS =30.= Commission or brokerage is the business of buying and selling goods for another. The commission merchant or broker acts in the capacity of agent, charging a stated per cent or commission for his services.