The general ledger entries covering the payment of the Barber note, just mentioned, maturing on August 29, would be as follows:

The debit, of course, would depend upon the means used by the obligor in payment.

Auxiliary Entries

No entry is required in the bills discounted register when a note is paid, but there should be an entry in the discount ledger reducing the liability of the borrower, in this case Adams; (this entry is made by lining out the original) ; and there would be an entry also in the maturity tickler under date of August 29. Reference should be made to the illustrations of these records given under the preceding transaction.