Exercise No. 10.
Journalize: post, balance, and close Bills Receivable Account, making it a continuation of the account in Ex. No. 9. Close in the same manner as illustrated in Sec. 16 (b). What is the balance called ?
Stratford, December 2, 19-. Received from N. Shore on account his note for $250.50. 10. Sold K. Spiers on his acceptance, Mdse. $275.
15. N. Shore paid his note of Dec. 2 in cash, $250.50. (Gave it back to him.) 21. Sold S. Parks on his note, Mdse. $150.
24. B. Clark paid his note of Nov. 26 in cash, $400.
28. Received from D. Hart on account, his acceptance for $100.
31. K. Spiers paid his acceptance of Dec. 10 in cash, $275.