SOLUTION TO EXERCISE 2-7
| 1. Account | 11. Journalizing |
| 2. T-account | 12. Ledger |
| 3. Three-column form of account | 13. Posting |
| 4. Chart of accounts | 14. Trial balance |
| 5. Credit | 15. General ledger |
| 6. Debit | 16. Double-entry system |
| 7. Journal | 17. Common stock |
| 8. Compound entry | 18. Dividend |
| 9. Simple entry | 19. Retained earnings |
| 10. General journal | 20. Normal balance |
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