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