Accounting Chapter 2 Vocab
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Last updated 8:21 PM on 9/26/23
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6 Terms
1
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T Account
An accounting device used to analyze transactions
2
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Debit
An amount recorded on the left side
3
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Credit
An amount recorded on the right side
4
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Normal balance
The side of the account that is increased
5
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Chart of Accounts
A list of accounts used by a business
6
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Accounts Payable
Amounts to be paid in the future for goods or services already acquired
