Term
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Definition
| Contra account to (office) equipment or other asset with gradual declining value. |
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Term
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Definition
| Cash received in one period for goods and/or services to be provided in the future. |
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Term
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Definition
| provides a chronological record of all economic events affecting a firm |
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Term
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Definition
| type of journal used to track repetitive transactions, i.e. sales journal |
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Term
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Definition
| collection of the company's various accounts |
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Term
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Definition
| involves transferring debits and credits recorded in individual journal entries to the specific accounts affected |
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