A record used to summarize all increases
and decreases in a particular asset,
liability, shareholder (owner) equity,
revenue, or expense category in a set of
accounting books. An account is a detailed
record of receipts and payments of money or
of trade transactions that have taken place
between two or more persons.
A common example within the brokerage
involves the statutory trust account. The
real estate trust account has an
accompanying brokerage real estate trust
ledger that sets out in detail the deposits
and disbursements from that trust account.
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