PISCAN DOCUMENT, a precursor of double entry bookkeeping, dates from the early 12th century. Records indicate that primitive bookkeeping with sequential transactions using Roman numerals was presented in paragraph form. Some of the record fragments are from an unknown Florentine banking firm dated from 1211. It was not yet double entry bookkeeping, but advancing in that direction. Other fragments include the Castra Gualfred and the Borghesia Company from 1259-67; Gentile de Sassetti and Sons, 1274-1310; and Bene Bencivenni, 1277-96. The most complete records are from Rinieri Fini & Brothers, 1296-1305, and Giovanni Farolfi & Co., 1299-1300.
DISCOUNT PAPER is securities that are issued at a discount and mature at face, or par value. The difference, rather than coupon payments, represents the interest earned at maturity .
SUMMARY ACCOUNT is a ledger account (such as a control account) whose balance represents the total of other account balances.
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