Intro to bookkeeping Word Scramble
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Term | Definition |
Books of First Entry | The books in which the first record of a transaction is written down. AKA The Day Books |
Ledgers | Books that contain the accounts of individuals, assets, liabilities, gains and expenses. |
Accounts | Pages in the ledger that deal with a specific individual, asset etc. |
Double Entry Bookkeeping | The recording of two aspects of a transaction, i.e. the giving and receiving sides. |
Trial balance | A statement that tests if the double entry bookkeeping has been carried out correctly before the final accounts are drafted. |
Sales Day Book | Used to record the sale of goods on credit. |
Purchases Day Book | Used to record the purchase of goods on credit for resale. |
Sales Returns Day Book | Used to record the return of goods sold on credit. |
Purchases Returns Day Book | Used to record the return of goods purchased on credit for resale. |
Receipt | Written proof of payment for a good or service. |
Created by:
mdowneykk
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