Trial Balance Journal Closing Entries Source Documents Adjusted Trial Balance Ledger Financial Statements statement prepared using the corrected account balances (such as balance sheet and income statement) chronological (date-ordered) records of transactions, which are the first basic entry of debit and credit for each transaction must be made to close out the revenue and expense accounts and bring them to zero so that the cycle can begin again a sheet that displays all of the accounts and tests whether or not the entire debit balances equal the total of all the credit balances documents that serve as proof of a transaction involve bringing an asset or liability account to its proper amount and updating the corresponding revenue or expense account a collective term for the accounts of a business. They are also often referred to as T-accounts i need this pls