Collection of an entire group of similar accounts in double-entry bookkeeping.Also called book of final entry, a ledger records classified and summarized financial information from journals (the 'books of first entry') as debits and credits, and shows their current balances. In double-entry bookkeeping, a widespread accounting method, all financial transactions are considered to affect … This proof of equality of debit and credit balances is called a 23. General Journal Description. The closing entries can be (a) taken directly from the worksheet, or (b) developed from the adjusted 20. This classic has been a favorite for decades, but how many people remember the vocab? Understanding T-Account . From using simple language to employing creativity, here are some creative job posting examples and what makes them so effective.