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We need to ensure that we remember important terminology from the many lessons we have covered.
Up Next in Term 4
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T-accounts, the double entry system a...
The General ledger is a summary of all the journals. To understand the general ledger, we need to start by wrapping our heads around the double entry system and T accounts.
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Debiting and crediting
There are specific sets of rules used to decide whether an account gets credited or debited.
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Format of General ledger and sections
We start looking at T accounts and move on to know the format of the general ledger.
