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Chapter 6 Vocab
| Term | Definition |
|---|---|
| Accounting Cycle | Activities performed in an accounting period that help the business keep its records in an orderly fashion |
| Calendar year | Accounting period that begins on January 1 and ends on December 31 |
| Check stub | document that lists the same information that appears on a check and shows the balance in the checking account before and after each check is written |
| Fiscal year | An accounting period of twelve months |
| General journal | An all-purpose journal in which all the transactions of a business may be recorded |
| Invoice | document that lists the quantity, description, unit price, and total cost of the items sold and shipped to a buyer |
| Journal | A chronological record of the transactions of a business |
| Journalizing | The process of recording business transactions in a journal |
| Memorandum | brief written message that describes a transaction that takes place within a business |
| Receipt | A source document that serves as a record of cash received. |
| Source Document | A paper prepared as evidence that a transaction occurred |
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smonroy21
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