Accounting Chapter 1 and 2 Vocab Review

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Across
  1. 3. Accounts which store amounts to be received in the future from customers.
  2. 7. Accounts which store amounts to be paid in the future to creditors.
  3. 9. A business owned by one person.
  4. 10. The receipt of assets from an owner or equity holder of a business.
  5. 12. Anything of value that is owned.
  6. 14. An amount recorded on the LEFT side of an account.
  7. 15. An amount owed to a creditor.
Down
  1. 1. A list of accounts used by a business.
  2. 2. A sale for which payment will be received at a later date.
  3. 4. A visual accounting device used to analyze transactions into debit and credit parts.
  4. 5. An increase in equity resulting from the sale of goods or services.
  5. 6. Assets taken from the business for the owner's personal use.
  6. 8. The cost of goods or services used to operate a business.
  7. 11. The difference between assets and liabilities.
  8. 13. An amount recorded on the RIGHT side of an account.