T account
Definition
Simplified two-column account form that resembles capital (uppercase) letter 'T' and is used commonly in illustrating double entry bookkeeping techniques. Its three elements are (1) a title that describes a particular account or financial statement item (such as cash balance, input costs, sales revenue), (2) left hand side column called the debit side, and (3) right hand side column called the credit side.
T account is in the Accounting & Auditing subject.
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