Vocab
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Transferring information from a journal entry to a ledger account
all physical aspects of money
receipt
a business form giving written acknowledgement for cash received
correcting entry
the incorrect journal entry should be corrected with an addition journal entry
account receivable
amounts to be received in the future
memorandum
a form on which a breif message is written to describe a transaction
checking account
payments can be ordered by a depositor
accounts payable
amounts to be paid in the future
sales invoice
an invoice used for recording a sale on account
deposit slip
bank form which lists the checks, currency and coins an account holder is adding to the bank account
Owner's equity
the amount remaining after the value of all liabilities is subtracted from the value of all assets
check
a business form ordering a bank to pay cash from a bank account
endorsement
A signature or stamp on the back of a check
revenue
an increase in equity resulting from the sale of goods or services
calculator tape
used for daily sales