Which statement best describes a Taccount?

$8^{T-\text{a}\text{c}\text{c}\text{o}\text{u}\text{n}\text{t}is\text{a}\text{f}\text{o}\text{r}\text{m}\text{a}\text{l}\text{f}\text{i}\text{n}\text{a}\text{n}\text{c}\text{i}\text{a}\text{l}\text{s}\text{t}\text{a}\text{t}\text{e}\text{m}\text{e}\text{n}\text{t}\text{w}\text{h}\text{i}\text{c}\text{h}\text{r}\text{e}\text{p}\text{o}\text{r}\text{t}\text{s}\text{w}\text{h}\text{e}\text{t}\text{e}\text{x}\text{d}\text{e}\text{b}\text{i}\text{t}\text{s}*\text{c}\text{r}\text{e}\text{d}\text{t}\text{s}at\text{a}\text{n}\text{y}\text{g}\text{i}\text{v}\text{e}\text{n}\text{t}\text{i}\text{m}\text{e}\text{.}}$

A T$-$account is used to record transections in a churnological order and serves as a book of original entry.

A T$-$account represents a tedper account and is a toot used is unserstind the effects of transactions: