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The left side of an account.
Debit
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A ledger that contains all asset, liability, stockholders' equilty, revenue, and expense accounts.
General ledger
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The basic form of an account.
T account
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The procedure of entering transaction data in the journal.
Journalizing
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A list of a company's accounts.
Chart of accounts
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The most basic form of journal
General journal
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An individual accounting record of increases and decreases in specific asset, liability, stockholders' equity, revenue or expense items.
Account
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An accounting records in which transactions are initially recorded in chronological order.
Journal
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A system that records the dual effect of each transaction in appropriate accounts.
Double-entry system
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The right side of an account.
Credit
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A list of accounts and their balances at a given time.
Trial balance
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The procedure of transferring journal entry amounts to the ledger accounts.
Posting
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The group of accounts maintained by a company.
Ledger
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The system of collecting and processing transaction data and communicating financial information to interested parties.
Accounting information system
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Events that require recording in the financial statements because they affect assets, liabilities, or stockholder's equity.
Accounting transactions
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