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7 Cards in this Set
- Front
- Back
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Account number,
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The number assigned to an account.
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Correcting entry
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If a transaction has been improperly journalized and posted to the ledger, the incorrect journal entry should be corrected with an additional journal entry, called a correcting entry.
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File maintenance
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The procedure for arranging accounts in a general ledger, assigning account numbers, and keeping records current.
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General ledger
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A ledger that contains all accounts needed to prepare financial statements.
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Ledger
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A group of accounts.
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Opening an account
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Writing an account title and number on the heading of an account.
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Posting
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Transferring information from a journal entry to a ledger account.
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