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Chapter 7
Term | Definition |
---|---|
Correcting Entry | Never erase an error, When a error is made before posting draw a signal line through the error and right the correct entry above. |
General ledger | In either system the ledger is often called... |
ledger accounting forms | in the manual accounting system, information about specific accounts is recorded in |
posting | Is the process of transferring information from the journal to individual ledger accounts. |
proving the ledger | adding the the debits, and adding all the credits, an finally comparing the two totals to see whether they are equal. |
slide error | Occurs when a decimal point is moved by mistake |
transportation error | Occurs when two digits within an amount are accidentally reversed, or transposed. |
trial balance | A formal way to prove the ledger is to prepare, a list of all the accounts names and their balances. |