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7 Cards in this Set
- Front
- Back
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Chart of Accounts
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List of all accounts used by a business.
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Ledger
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A group if accounts.
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Double-Entry Accounting
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Analyze and record a transaction.
Records the different sides of business transactions as debits and credits. |
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Debit
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An entry on the left side of an account.
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Credit
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An entry on the right side of an account.
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T Account
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Efficient tool for analyzing double-entry accounting transactions.
Shows the dollar increase or decrease in an account that is caused by a transaction. |
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Normal Balance
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Always on the side used to record increase to the account.
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