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Ledger
A comprehensive collection of a company's financial accounts, used for recording all financial transactions.
Debits
Entries on the left side of an account ledger, indicating an increase in assets or decrease in liabilities and equity.
Credits
Entries in accounting that increase liabilities, revenue, or equity accounts, or decrease asset or expense accounts, reflecting a gain in financial statements.
Chart of Accounts
An organized list of all accounts in a business entity's financial records, each with a unique identifier.
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