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Accounting 2; Chapter 2 Terms

Across
A group of related accounts that comprise a complete unit, such as all of the accounts of a specific business.
Increase in owners' equity as a result of providing services or selling products to customers.
The system (or list) of accounts that make up the ledger for a business
Debts owed to outsiders.
The amounts paid to stockholders of a corporation from retained earnings.
Down
Physical items or rights that have value and are owned by the business entity.
Assets or services consumed in the process of generating revenue.
The process of recording a transaction in the journal.
The process by which the data in the journal entry are transferred to the appropriate accounts.
The form used to record additions and deductions for each individual asset, liability, owners' equity, revenue, and expense.