Accounting Equation
Transactions Affecting Accounts
Transactions Affecting Owner Equity
Source Document
General Journal
100
This is what you own
What is asset
100
Received cash from owner as an investments
What is debit cash and credit capital
100
Sold services on account
What is debit accounts receivable and credit sales
100
This is used to pay out cash
What is check
100
A form used to record transactions in chronological order
What is a journal
200
This is what you owe
What is liability
200
Paid cash for supplies
What is debit supplies and credit cash
200
Recieved cash from sales
What is debit cash and credit sales
200
This is used when cash is received
What is receipt
200
Information for each transaction recorded in a journal
What is an entry
300
This asset-liabilities
What is owner equity
300
Bought supplies on account
What is debit supplies and credit accounts payable
300
Paid cash for rent
What is debit rent expense and credit cash
300
This is used when bought supplies on account
What is a memorandum
300
A journal with two amount columns in which entries are recorded
What is a general journal
400
The _______ side and ________ side must equal
What is debit and credit
400
Paid cash for insurance
What is debit prepaid insurance and credit cash
400
Received cash on account
What is debit cash and credit accounts receivable
400
This is used when services are sold on account
What is sales invoice
400
Recording of a debit and credit
What is double entry accounting
500
The debit is on the ________ and the credit is on the _____
What is left and right
500
Paid cash on account
What is debit accounts payable and credit cash
500
Paid cash to owner for personal use
What is debit drawing and credit cash
500
This is used when receiving cash from sales
What is calculator tape
500
This concept is applied when a source document is prepared for the transaction
What is objective evidence
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