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Transaction Recording Process
The systematic approach of documenting financial transactions in the accounting records of a business, ensuring accuracy and completeness.
Analyze
The process of examining data or information to break it down into its components, understand its structure, and identify patterns or relationships.
Journal
An accounting record where all transactions are initially recorded, chronologically, before they are transferred to ledger accounts.
Ledger
A book or computer file for recording and totaling economic transactions measured in terms of a monetary unit of account by account type, with debits and credits.
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