Accounting Chapter 4
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ledger
A group of accounts
correcting entry
A journal entry made to correct an error in a previous journal entry
general ledger
A ledger that contains all accounts needed to prepare financial statements
account number
The number assigned to an account
file maintenance
The procedure for arranging accounts in a general ledger, assigning account numbers, and keeping records current
posting
Transferring information from a journal to a ledger account
opening an account
Writing an account title and number on the heading of an account