Take on account and record first of transactions (6)

I believe the answer is:

'take on' is the definition.
('accept' can be a synonym of 'take on')

'account and record first of transactions' is the wordplay.
'account' becomes 'acc'.
'and' says to put letters next to each other.
'record' becomes 'ep'.
'first of' indicates taking the first letters.
The first letter of 'transactions' is 't'.
'acc'+'ep'+'t'='ACCEPT'

(Other definitions for accept that I've seen before include "Receive something proffered" , "Bear" , "Take on; tolerate" , "Admit into a group" , "Take up, obtain" .)

I've seen this clue in The Times.

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