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College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756

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BuyFindarrow_forward

College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756
Textbook Problem

What are the three major parts of a T account?

To determine

Indicate the three major parts of a T account.

Explanation

T-account: The condensed form of a ledger is referred to as T-account. The left-hand side of this account is known as debit, and the right hand side is known as credit.

This account is referred as T-account, because the alignment of the components of the account resembles the capital letter ‘T’...

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