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Recording Process
The act of documenting financial transactions systematically in the books of accounts of a business.
Journal
An elaborate log that captures every financial transaction of an enterprise, initially entered prior to its transfer to the accounts within the general ledger.
Ledger
A comprehensive collection of accounts that records all financial transactions of a business, serving as the principal book for accounting.
Trial Balance
An accounting report that lists the balances of all ledger accounts to ensure that debits equal credits, used for internal checks.
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