| A | B |
|---|
| Chart of Accounts | A list of accounts used by a business. |
| Credit | An amount recorded on the right side of a T account. |
| Debit | An amoutn recorded ont he left side of a T account. |
| Normal Balance | The side the account that is increased. |
| T Account | An accounting device used to analyze transactions. |
| Asset Accounts | Cash, Accounts Receivable, Supplies, Prepaid Insurance |
| Liability Accounts | Accounts Payable |
| Owner's Equity Accounts | Capital, Drawing (Contra Capital Account) |
| Revenue Accounts | Sales |
| Expense Accounts | Any Account ending with Expense |
