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5 Cards in this Set
- Front
- Back
House Account |
People owned accounts |
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General Journal |
A list of recorded daily transactions. At the end of month total debits = total credits. 2 entries on accounts to keep things accurate. Everything from the journal gets transferred to the ledger. |
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Bill for Product |
Vendors- Account Payable. On the date the invoice was created or goods were received by us. Has to be created and closed in same month. |
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Assets = |
Liabilities + Equity this is also what a trial balance shows |
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Vendors- Files |
Behind me, alphabetical, payables, our "po" five digit number "54321" it is important for billing vendors with goods we receive. |