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Match the accounting terms with the corresponding definitions Posting                      a

Accounting Jan 14, 2021

Match the accounting terms with the corresponding definitions

Posting                      a. a detailed record of all increases and decreases that have occurred in a particular asset, liability, or equity during a period

Account                    b. the record holding all the accounts of a business, the changes in those accounts, and their balances

Debit                          c. a journal entry that is characterized by having multiple debits and/or multiple credits

Journal                                 d. a record of transactions in date order

Chart of accounts                  e. left side of a t-account    

Trial balance                      f. side of an account where increases are recorded

Normal balance                g. transferring amounts from the journal to the ledger

Ledge                                h. right side of a t-account

Credit                                 i. a list of all accounts with their balances at a point in time

Compound journal entry         j. a list of all accounts with their account numb

Expert Solution

Posting - transferring amounts from the journal to the ledger
Account - a detailed record of all increases and decreases that have occurred in a particular asset, liability, or equity during a period
Debit - left side of a t-account  
Journal - a record of transactions in date order
Chart of Accounts - a list of all accounts with their account numb
Trial Balance - a list of all accounts with their balances at a point in time
Normal Balance - side of an account where increases are recorded
Ledge - the record holding all the accounts of a business, the changes in those accounts, and their balances
Credit - right side of a t-account
Compound Journal Entry - a journal entry that is characterized by having multiple debits and/or multiple credits
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