Of these, Wells, Fargo, Livingston and McKay were also on the board of American Express. Financier Edwin B. Morgan of Aurora, Cayuga County, New York, was appointed Wells Fargo's first president. They commenced business May 20, 1852, the day their announcement appeared in The New York Times.
t-account. The traditional way to record a debit and credit in one account shaped like a T.. The long line is for the account name, the left column is the debit amount, and the right column is the credit amount.
Each liability account has a normal ______balance. increases. The balance of an account________ (increases, decreases) on the same side as the normal balance side. An amount recorded on the left side of a T account is a _______. two. Each transaction changes the balances in at least ____accounts. A list of accounts used by a business is a ________.