Examlex
What is the major product of the following reaction sequence?
Debits
Accounting entries that increase asset or expense accounts, or decrease liability, equity, or revenue accounts.
Trial Balance
A bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit columns to ensure a company's bookkeeping system is mathematically correct.
Journalizing
The process of recording financial transactions in a journal or diary, marking the first step in the accounting cycle.
General Journal
A general journal is a fundamental accounting record where all day-to-day financial transactions of a business are initially recorded.
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