Accounting Chapter 3 test Vocabulary Terms

journal

journal

A form for recording transactions in chronological order. (p. 58)

journalizing

Recording transactions in a journal. (p. 58)

entry

Information for each transaction recorded in a journal. (p. 59)

double-entry accounting

The recording of debit and credit parts of a transaction. (p. 59)

source document

A business paper from which information is obtained for a journal entry. (p. 59)

check

A business form ordering a bank to pay cash from a bank account. (p. 60)

invoice

A form describing the goods or services sold, the quantity, the price, and the terms of sale. (p. 60)

sales invoice

An invoice used as a source document for recording a sale on account. (p. 60)

receipt

A business form giving written acknowledgement for cash received. (p. 61)

memorandum

A form on which a brief message is written to describe a transaction. (p. 61)

proving cash

Determining that the amount of cash agrees with the accounting records. (p. 79)