Chapter 4 Word Scramble
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Question | Answer |
chart of accounts | A list of all accounts used by a business |
credit | An agreement to pay for a purchase at a later time; on the right side of the account |
debit | An entry on the left side of an account |
double-entry accounting | A system that recognizes the different sides of business transactions as debits and credits |
ledger | A group of accounts |
normal balance | The increase side of an account |
T account | A visual representation of a ledger account. |
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msutter19
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