Chapter 2 Flashcards
0
Q
Debit
A
An amount recorded on the left side of the t- account
1
Q
T-account
A
An accounting device used to analyze transactions.
2
Q
Credit
A
An amount recorded on the right side of a t-account
3
Q
Normal balance
A
The side of the account that is increased.
4
Q
Chart of accounts
A
A list of accounts used by a business.
