| A | B |
|---|
| chart of accounts | a list of all accounts used by a business |
| credit | an agreement to pay for a purchase at a later time; an entry on the right side of an 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; also referred to as a general ledger |
| normal balance | the increase side of an account. The word normal here means usual |
| t account | a visual representation of a ledger account. The t account is a tool used to analyze transaction |
