1. Section 2-1: Using T Accounts

2. Terms
A record summarizing all the information pertaining to a single item in the accounting equation is known as an account.
T Account-
An accounting device used to analyze transactions.

3. Terms Debit- (dr.) An amount recorded on the left side. Credit- (cr.)
An amount recorded on the right side.

4. More terms… Normal Balance-
The side of the account that is increased.
To increase an account on the left side of the accounting equation, you must debit that account.
To increase an account on the right side of the accounting equation, you must credit that account.