Cash Journal for Commission Business ] [Illustration: Shipper's Purchase and Shipment Ledger ] [Illustration: Shipper's General Ledger ] [Illustration: THE ADMINISTRATION BUILDING OF THE MINNEAPOLIS STEEL & MACHINERY CO., MINNEAPOLIS, MINN. ] [Illustration: Shipper's General Ledger ] EXERCISE =48.= On a certain date a trial balance of the ledger of Henry Donnely, shipper of produce, stood as follows: DEBITS Purchases of apples $1,264.00 Purchases of potatoes 1,500.00 Shipment Ledger Account 736.00 Cash 450.00 CREDITS Shipment Account—apples 1,200.00 Shipment Account—potatoes 1,200.00 Profit on Shipments—apples 250.00 Profit on Shipments—potatoes 350.00 Accounts Payable 950.00 During a subsequent period, his transactions were as follows: Cash purchases of apples 1,000.00 Cash purchases of potatoes 1,000.00 Shipments of apples 900.00 Shipments of potatoes 1,100.00 Profits on apples 100.00 Profits on potatoes 200.00 Account Sales for which cash was received 1,800.00 Account sales charged to Agts. 600.00 Shipment Ledger Account decreased 100.00 Sundry expenses paid in cash 50.00 Inventory at end of period Apples 210.00 Potatoes 190.00 400.00 Prepare trading and profit and loss accounts showing net profits or losses on both apples and potatoes for the entire period represented by the accounts. COMMISSION MERCHANTS' BOOKS =49.= The books required by a produce commission merchant are _receiving book_, _cash book_, _consignment ledger_, _sales book_, _sales ledger_, _journal_, and _general ledger_. If he buys produce to be sold on his own account, he also requires a _purchase book_ and _purchase ledger_. =50. The Receiving Book.= This is usually a rough blotter with ordinary day book ruling, though some merchants use special forms.