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Accounting Ch. 5 Vocabulary

Ch. 5 Vocab

AB
account numberThe number assigned to an account.
correcting entryA journal entry made to correct an error in a ledger
file maintenanceThe procedure for arranging accounts in a general ledger, assigning account numbers, and keeping records current.
general ledgerA ledger that contains all accounts needed to prepare financial statements.
ledgerA group of accounts.
opening an accountWriting an account title and number on the heading of an account.
postingTransferring information from a journal entry to a ledger account.

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