an amount recorded on the left side of a T account
an amount recorded on the right side of a T account
the side of the T account that is increased
chart of accounts
a list of accounts used by a business
4 questions for analyzing a transaction into debit and credit parts
1. Which accounts are affected? 2. How is each account classified? (asset, liab., capital) 3. How is each classification changed? (increased, decreased?) 4. How is each amount entered in the accounts? (debit, credit side?)
What two accounts are affected when a business pays cash for supplies?