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Chapter 3: Journalizing
Accounting Chapter 3 Vocabulary
19
Accounting
12th Grade
11/27/2012

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Term
Entry
Definition
Information for each transaction recorded in a journal.
Term
Journal
Definition
A form for recording transactions in chronological order.
Term
Special Amount Column
Definition
A journal amount column headed with an account title.
Term
Source Document
Definition
A business paper from which information is obtained for a journal entry.
Term
General Amount Column
Definition
A journal amount column that is not headed with an account title.
Term
Double Entry Accounting
Definition
The recording of debit and credit parts of a transation.
Term
Invoice
Definition
A form describing the goods or services sold, quantity, and the price.
Term
Journalizing
Definition
Recording transactions in a journal.
Term
Proving Cash
Definition
Determining that the amount of cash agrees with the accounting records.
Term
Check
Definition
A business form ordering a bank to pay cash from a bank account.
Term
Sales Invoice
Definition
An invoice used as a source document for recording a sale on account.
Term
Receipt
Definition
A business form giving written acknowledgement for cash received.
Term
Memorandum
Definition
A form on which a brief message is written describing a transaction.
Term
Objective Evidence
Definition
The accounting concept that states a source document is prepared for each transaction.
Term
Business Entity
Definition
The accounting concept that states business's financial information is recorded and reported separately from the owner's personal financial information
Term
Equities
Definition
Financial rights to the assets of a business
Term
Unit of Measurement
Definition
The accounting concept that stated business transactions are stated in numbers that have common values.
Term
Realization of Revenue
Definition
The accounting concept that states revenue is recorded at the time goods or services are sold.
Term
Normal Balance
Definition
The side of the account that is increased.
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