Examlex
Choose the one alternative that best completes the statement or answers the question.
Complete the identity.
- ?
Journalizing
The procedure of logging company transactions in a journal, forming a part of the cycle of accounting.
Debit
An accounting entry showing an increase in assets or expenses or a decrease in equity, liabilities, or revenue.
Credit
An accounting entry that increases liabilities or equity, or decreases assets, reflecting the value of transactions where goods, services, or cash are received.
Cash Account
A financial account that tracks the amount of cash inflows and outflows, representing the company's liquid assets.
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