common accounting form in the shape of the capital letter T. It has the following components: (1) a title describing the particular financial statement item (e.g., sales revenue), (2) a left side referred to as a DEBIT, and (3) a right side called a CREDIT. There is a separate T-account for each item in the ledger. A T-account looks as follows:

                                      Account Name  

                             Debit                           Credit