| A | B |
|---|
| Ledger | A group of accounts. |
| General Ledger | A ledger that contains all accounts needed to prepare financial statements. |
| Account Number | The number assigned to an account. |
| File Maintenance | The procedure for arranging accounts in a general ledger, assigning account numbers, and keeping records current. |
| Opening an Account | Writing an account title and number on the heading of an account. |
| Posting | Transferring information from a journal entry to a ledger account. |
| Assets, Liabilities and Owner's Equities | The balance sheet accounts. |
| Revenue and Expenses | The income statement accounts. |
| Subsidiary ledger | A ledger that is summarized in a single general ledger account. |
| Accounts payable ledger | A subsidiary ledger containing only account for vendors from whom items are purchased or bought on account. |
| Accounts receivable ledger | A subsidiary ledger containing only account for charge customers. |
| Controlling account | An account in a general ledger summarizes all accounts in a subsidiary ledger. |
| Schedule of accounts payable | A listing of vendor accounts, account balances, and total amount due all vendors. |
| Schedule of accounts receivable | A listing of customer accounts, account balances, and total amount due from all customers. |
