Note 60 — APPENDIX TO
Reading edition
The treatises on book-keeping have described this difference in as peculiar a manner. They call these accounts the fictitious accounts. Now they represent the merchant himself; their credits are gain to the business, their debits losses or liabilities. If the terms real and fictitious are to be used at all, they are the real accounts, end all the others are as fictitious as the clerks whom we have supposed to keep them.