Instructions: Identify the Following Terms

question 28

Short Answer

Instructions: Identify the following terms:
mound builder

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Definitions:

Ledger

A book or collection of financial accounts in which transactions are recorded.

Account Balance

The amount of money in a financial repository, such as a bank account, at any given time.

Journal

A detailed record where all financial transactions of a business are initially recorded before being transferred to accounts in the general ledger.

Ledger

A comprehensive collection of all accounts and their transactions used in the accounting system of a business.