=42. Cash Book.= Tabular cash books with special arrangement of the column headings are used. The special features are the column on the credit side headed _shipment expense_, and the debit column headed _shipment ledger_. The shipment expense column is for the expenses paid on each shipment. Expenses are posted direct to the debit of the individual shipment accounts, and at the end of the month the total expense is posted to the debit of the shipment ledger controlling account. The shipment ledger column is for net proceeds remitted with account sales. The amounts are posted to the credit of shipment accounts, and the total is posted at the end of the month to the credit of shipment ledger controlling account.
The sundries column is for receipts other than remittances with account sales—as payments by agents who have not remitted with account sales.
Shipment Ledger for Commission Business ]
=43. Shipment Ledger Account.= This is the controlling account of the shipment ledger. It is charged with total shipments through the shipment book; with advance expenses through cash book or journal; credited with net proceeds through cash book or journal. It must also be charged with profits on shipments, or it will not represent the total balance of shipment ledger.
When net proceeds are credited, the individual shipment account should be charged, through the journal, with the net profit, which is credited to _Profit and Loss on Shipments_. A special credit column is provided in the journal for profits, or if a record of profits on each class of produce is desired, two or more columns are provided. Monthly totals are posted to the credit of profit and loss on shipment account, or to more than one such account—as _profit on poultry_, _profit on butter and eggs, etc._ The total of all profit columns, which represents debits to shipment accounts, is charged to shipment ledger account.
It is to be supposed that losses will be few, and when one is incurred the entries should be made through the journal. The amount will be charged to profit and loss on shipment account and credited to both the individual shipment account and shipment ledger account.
=44. Journal.= As already explained, the journal should be provided with extra columns for profits on each class of shipment.