Untitled Studyset
Created by lily
| Term | Definition |
|---|---|
what is the ledger account sometimes called? | T account |
why is it called a T account? | because 4 format is shaped like the letter T |
when the withdrew money for him personal use what is 1 of the account we use | drawings |
when we are on the sales account we always? | credit |
when were on the capital account we always? | credit |
when were on the purchase account we must? | debit |
when were on the drawing account we must? | debit |