Banks periodically render statements of account to their depositors. Business men and firms also make out statements of account, which are sent to their debtors. They show all the debits and credits of an account as they appear on the seller's books. It is not necessary to make out an itemized statement if an invoice was made out and delivered to the purchaser when each purchase was made. If this has been the case it will be sufficient simply to give the date and amount of each purchase in the statement, with the words: "As per bill rendered." Retail businesses usually send out these statements at the end of each month. Wholesale dealers usually make them out when the term of credit has expired. For instance, if goods have been sold on sixty days' credit, the statement will not be sent out until this period has expired.

Invoice With Terms Of Discount Noted

St. Paul, Minn., April 1, 1922. Mr. Carter Perry, Dr.

Bought of Kinsey and Hanson, Wholesale Druggists

Terms: Net 60 days (or it might read 3/10/60). Less 3% if paid within 10 days.

(Here follows description of goods bought with price)