Chapter 17
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Created by:
hiltyfa137 on April 9, 2012
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4 terms
Terms | Definitions |
|---|---|
 Purchases Journal | A special journal used to record all transactions in which items are bought on account |
| Cash Payments Journal | A special journal used to record all transactions in which cash is paid out or decreased |
| Schedule of Accounts Payable | A list of all creditors in the accounts payable ledger, the balance in each account, and the total amount owed to all creditors |
| Proving Cash | The process of verifying that cash recorded in the accounting records agrees with the amount entered in the checkbook |
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