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Accounting Chapter 3
| Question | Answer |
|---|---|
| Journal | A form for recording transactions in chronological order |
| Journalizing | Recording transactions in a journal |
| Entry | Information for each transaction recorded in a journal |
| General Journal | A journal with two amount columns in which all kinds of entries can be recorded. Entries are recorded here before they are posted to the appropriate accounts. |
| Chronological Record | Transactions are recorded in a journal in order by date |
| Double-Entry Accounting | The recording of debit and credit parts of a transaction |
| Source Document | A business paper from which information is obtained for a journal entry |
| Objective Evidence | Information based on facts that can be proved through analysis, measurement, observation, and other such means of research |
| Check | A business form ordering a bank to pay cash from a bank account |
| Sales Invoice | A form describing the goods/services sold, the quantity, and the price |
| Receipt | A business form giving written acknowledgement for cash received |
| Memorandum | A form on which a brief message is written describing the transaction |
| Calculator Tape | Can be used to show proof of a whole days sales-often used by a smaller business |
Created by:
lbeddow
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