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Chapter 3
Accounting 1
Term | Definition |
---|---|
Journal | A form for recording transactions in chronological order. |
Journalizing | Recording transactions in a journal. |
Entry | Information for each transaction recorded in a journal. |
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. |
Check | A business form ordering a bank to pay cash from a bank account. |
Invoice | A form describing the goods or services sold, the quantity, the price, and the terms of sale. |
Sales Invoice | An invoiced used as a source document for recording a sale on account. A sales invoice is also referred to as a sales ticket or a sales slip. |
Receipt | A business form giving written acknowledgement for cash received. |
Memorandum | A form on which a brief message is written to describe a transaction. |
Proving Cash | Determining that the amount of cash agrees with the accounting records. |