Ntries made - Study guides, Class notes & Summaries

A device for recording the changes (increases or decreases) in the fundamental accounting elements. Account The process involved in journalizing, posting to the ledger, taking a trial balance, preparing statements, making adjusting and closing entires, and preparing a post-closing trial balance. Accounting cycle Which of the following terms is defined as an unwritten promise by a customer to pay, at a later date, goods sold or services rendered? Accounts receivable Entries made at the conc...