|Debits and Credits #1||Open||
|Debits and Credits #2||Open|
|Debits and Credits #3||Open|
1) When an amount is entered on this side of an account, we say the account was debited.
2) A listing of all of the accounts in the general ledger with the debit amounts in one column and the credit amounts in another column is a _________ balance.
3) A journal entry with just two accounts is a ___________ journal entry.
4) When a corporation declares these, there needs to be an entry to debit Retained Earnings and to credit a liability account.
5) A company's accounts are housed in the general _______________.
6) When a transaction is recorded, there are at least _________ accounts involved.
7) The difference between a sole proprietorship's total assets and its total liabilities is ___________'s equity.
8) Costs that have been used to earn revenues.
9) This type of account is credited when the proceeds from the sale of an asset used in the business exceeds its book value.
10) Fees that have been earned are recorded in this type of account.
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