Revenue accounts, as part of a ledger system, include sales revenue, services revenue, interest revenue and rent. For a beauty salon, all four of these broad revenue accounts in the ledger can be used ...

T-accounting is a method used by accountants and bookkeepers that gets its name from the T shape formed by the two columns used to record entries. Also called double-entry accounting, T-accounting ...

Learn what a contra liability account is, how it functions in financial accounting, and explore examples of this essential component in balancing liabilities.