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What is NOT a feature that distinguished the middle colonies from the other colonies in New England and to the south?
Debits and Credits
Accounting terms used to record changes in accounts, where debits are entries on the left side of an account and credits are entries on the right.
Adjusting Entries
Journal entries made at the end of an accounting period to update accounts for accuracies in preparation for financial reporting.
Closing Entries
Journal entries made at the end of an accounting period to transfer balances from temporary accounts to permanent ones.
End-Of-Period Spreadsheet
A document used in accounting to compile all balance sheet and income statement accounts at the end of a reporting period.
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