ABSTRACT
Short-time investments are often made upon the security or pledge of bonds, stocks, goods or other personal property valued at more than the amount of the loan. Frequently these are payable on demand, and are known as “call-loans.” The accountancy of loans is even simpler than that of mortgages, and we need only give three models, for Principal account, Interest account, and Register of Collateral. The Interest account may be kept concurrent with the Principal account — that is, using up the same number of lines in each. In the suggested form there is a column for interest accrued as well as for interest due. With this exception the mechanism of the Loan Ledger is the same as that of the Mortgage Ledger, and the General Ledger account of loans will be similar to that of mortgages.
