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Accounting ch 4
College Accounting ch 4
|Book of Original Entry
|The journal or the first formal accounting record of a transaction.
|Chart of Accounts
|A list of all accounts used by a business.
|A general journal entry that affects more than two accounts.
|The information in the Posting Reference columns of the journal and ledger that provides a link between the journal and ledger.
|A complete set of all accounts used by a business. The general ledger accumulates a complete record of the debits and credits made to each account as a result of entries made in the journal.
|General Ledger Account
|An account with columns for the debit or credit transaction and columns for the debit or credit running balance.
|A day-by-day listing of the transactions of a business.
|Entering the transactions in a journal.
|Copying the debits and credits from the journal to the ledger accounts.
|A method of correcting an entry in which a line is drawn through the error and the correct information is placed above it.
|An error that occurs when debit or credit amounts "slide" a digit or two to the left or right.
|Any document that provides information about a business transaction.
|An error that occurs when two digits are reversed.
|A list used to prove that the totals of the debit and credit balances in the ledger accounts are equal.
|Two-Column General Journal
|A journal with only two amount columns, one for debit amounts and one for credit amounts.