Before the evolution of money, commodities were exchanged for commodities. In such situations, how would people have maintained their accounts?
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Answer:
Since money was not a part of Barter system, all reciepts were recorded in the form of goods exchanged. The value of a good or service was expressed in terms of another commodity. For ex- 5 eggs is equal to 1 apple or 10 goats for 1 big buffalo etc.
Before evolution of money, the barter system was followed in which people exchanged commodities.
If someone wanted to buy milk and if he had an excess of vegetables with him, he would exchange the vegetables with someone who had milk to give. This is barter system. Under barter system, each commodity had a value which was matched off against other commodities with similar or equal value. In the case of any outstanding value with one of the parties to this exchange, it would have been recorded for adjustment in future transactions.