Chapter 2-Recording Business Transactions

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Last updated 7:12 PM on 9/11/26
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4 Terms

1
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What is an account?

he detailed record of all increases and decreases that have occurred in an individual asset, liability, or equity during a specified period.

2
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What are the asset accounts?

Cash

Accounts Receivable


3
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What is a notes receivable?

4
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What is a prepaid expense?