date g. Amounts entered on the left side of a T account is called a credit. nalSE h. The excess of debits (credits) of a T account over its credits (debits) is known as Account Balance. i. When entering a business transaction, debit(s) and credit(s) of the transaction need not to be equal. ise j. Business transactions are initially entered in a book called Ledger k. The process of transferring debits and credits from Ledger to General Journal is called Posting. ,m1se . The analysis and updating of accounts at the end of an accounting period is called Adjusting proces. Te accounting period m. There are four types of accounts that require adjusting entries at the end of an n. Comparing each item in a financial statement with a total amount from the same o. Assets of a business equal total of its liabilities and its owners' equity.TRe statement is known as Horizontal Analysis R1 (SC