Book Account Defined

The term “book account” means a statement which constitutes the principal record of one

(1)or more transactions between a debtor and a creditor arising out of a contract of some fiduciary relation, and which shows the debits and credits in connection therewith, and against whom and in favor of whom the entries are made, is entered in the regular course of business as conducted by the creditor or fiduciary, and is kept in a reasonably permanent form and manner and is

(1)in a bound book, or

(2)on a sheet or sheets fastened in a book or to a backing but detachable therefrom, or

(3)on a card or cards of a permanent character or is kept in any reasonably permanent form and manner.