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Posting Ch. 4

Chapter 4 vocab

QuestionAnswer
Ledger a group of accounts
General Ledger a ledger that contains all accounts needed to prepare financial statements
Account Number The number assigned to an account
File Maintenance The procedure for arranging account in a general ledger, assigning account numbers and keeping records current
Opening an Account writing an account title and number on the heading of an account
Posting transferring information from a jorunal entry to a ledger account
Correctintg entry the incorrect journal entry should be corrected with an additional journal entry
Created by: tdelzeith
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