States that the assets of the business equal the liabilities plus the owner's equity

When an owner takes cash or other assets from the business for personal use

An economic event that causes a change in the assets, liabilities, or owner's equity of a business

Income earned from the sale of goods or services

The debts of a business

Every business transaction affects ________ or more accounts and is recorded by equal amounts of debits and credits.

A financial recordkeeping system in which each business transaction affects at least two accounts.

The increase side of an account

An amount entered on the right side of the T account

List of all the accounts used by a business when journalizing its transactions

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