Chapter 2 GlossaryAccountRecord within an accounting system in which increases and decreases are entered and stored in a specific asset, liability, equity, revenue, or expense. Account balanceDifference between total debits and total credits (including the beginning balance) for an account. Balance column accountAccount with debit and credit columns for recording entries and another column for showing the balance of the account after each entry. Chart of accountsList of accounts used by a company; includes an identification number for each account. Compound journal entryJournal entry that affects at least three accounts. CreditRecorded on the right side; an entry that decreases asset and expense accounts, and increases liability, revenue, and most equity accounts; abbreviated Cr. CreditorsIndividuals or organizations entitled to receive payments. DebitRecorded on the left side; an entry that increases asset and expense accounts, and decreases liability, revenue, and most equity accounts; abbreviated Dr.