| A | B |
|---|
| ledger | a book or file containing a separate page for each business account |
| chart of accounts | list of all the accounts and their assigned account numbers |
| double-entry accouting | a system of recordkeeping in which each business transaction affects at least two accounts |
| t account | efficient way to apply double-entry accounting is to use what accountants |
| debit | an amount entered on left side of the t account. |
| credit | amount entered on the right side of the t account |
| normal balance | always on the side used to record increases to the account |
| loc | pham |
