Ledger account

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Ledger account (alternatively known as standard ledger account or, to distinguish it from T-accounts, standard account; hereinafter, the Account) is any financial account that includes columns for date, explanation, posting reference, debit, and credit, as long as it is included in a ledger.


Definitions

According to College Accounting: A Practical Approach by Slater (13th edition)‎,

Standard account. A formal account that includes columns for date, explanation, posting reference, debit, and credit.

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