General Journal
When recording a transaction, this side must be recorded first
Basic Accounting Equation
General Journal Review Process
Withdrawal Account
Purchase on Credit, on account means....
Chart of Account
Periodicity of Recording Transactions
Increases on the Dr Side Decreases on the Cr Side Normal Balance Debit
List of every account in the general ledger of an accounting system.
The amount due to the supplier will be paid after (at a later date)
Transactions must be recorded daily as they occur
Assets=Liabilities + Owner's Equity
Is what the business owes
