Account Books and Day Books Activity

Open the  account book  and then answer the questions below.

Gathering Evidence

In what year is this daybook kept?

1848

Did any customers come in to pay their debts?

yes

How can you tell?

There is a mark (CR) next to the items they brought in to sell.

What items did customers bring to the store for credit?

Feathers and Wheat

What were some of the items sold in the store?

Textile goods such as cotton, drilling, ticking, indigo, and needles.
Food items such as tea and molasses.
Household goods such as lamp oil and combs.
Tools such as axes.

Are the items purchased made in the community or brought in from elsewhere?

Both, but most were items that couldn’t be produced in the community such as silk, tobacco, and needles

Creating Conclusions

From the evidence, would you say this was a self-sufficient community?

No.

Was this a barter economy or a cash economy?

This was a mixed barter and cash economy where suppliers and buyers paid their debts through both cash and trade.