#double entries

Double entry system in Accounting #learndoubleentry #double #entry #accounts #accounting #finance #bookkeeping

The double-entry system is the record of every business transaction which has two fold aspects & effects two accounts i.e., Debit or Credit. It means receiving value on one hand (debit) and giving the value on the other hand (credit). The double-entry system is used to record entry in the journal. It is also called Dual Entity Systembecause in this every transaction has two parts or accounts: one…