| A | B |
|---|
| Business transaction | an economic event that increases or decreases parts of the accounting equation. |
| cash transaction | someone pays outright |
| credit transaction | someputs property on account |
| Withdrawal | Owner yanks money out the business bank account |
| Revenue | money received from sales of products or services |
| Account | Shows the increases, decrease, and balance for specific items such as cash in bank and equipment |
| An account that could have its own account | Supplies |
| Fee | a charge for services by you the business owner |
| Accounts Receivable | money owed to the business by a customer |
| Accounts Payable | money the business owes to a creditor |
| Asset, Liability, or Owner's Equity | Every business account is classified as |
| Liability | Accounts payable is classified as |
| Asset | Cash in Bank is classified as |
| Owner's Equity | Capital is classified as |
| Capital | The dollar value of investments to the business |
| Four | The amount of steps to Analyzing business transactions |
| In balance | The accounting equation must always stay |
