This ledger covers the period January 1896-September 1898. As the account book of final entry, it summarizes transactions relating to the sale of phonographs and records. Included are stock, capital, sales, advertising, talent, and payroll accounts. Many of the accounts pertain to sales representatives, including general sales agent George E. Tewksbury and New York-based dealer F. M. Prescott. The book contains 1004 numbered pages, many of which are blank, and an index. The spine is stamped "Ledger No. 1 Natl' Phon'o Co" and is labeled "Jan 28th 1896 to Sept 30th 1898." The entries are written in faint green ink, and some may be difficult to read.

This book was microfilmed at a reduction ratio of 16:1.