1. Accounting I/II Chapter 2, Section 1

2.  T- accounts  An accounting device used to analyze transactions  Debit  An amount recorded on the left side  Credit  An amount recorded on the right side  Normal balance  The side of an account that is increased  Chart of accounts  A list of accounts used by a business

3.  Account balances increase on the normal balance side of an account  Account balances decrease on the side opposite the normal balance side of an account

4. Take out accounting equation paper

5. Debits must always equal credits Debits are always recorded first

7. 2-1 Work Together and On Your Own Use handout 2-1 Application Problem Complete on www.aplia.com