Accounting

How are credits distinguished from debits in the journal

indenting

the process of initially recording business transactions in a journal is

journalizing

after collecting and verifying source documents, the next step in the accounting cycle is ...

analyzing business transactions

the entry to record the payment of office salaries would be

Debit Salaries expense, Credit Cash

The general journal is the

book of original entry

a journal entry affecting more than three accounts is called a

compound entry

When recording a transaction in a journal, the account listed first is always the

debit

If you debit pre-paid insurance you most likely will

debit cash

The twelve-month period of a business chooses for its accounting period is

fiscal year

Business transactions are first recorded in the

journal