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What is Double entry System​

Answer 1

Answer:

Double-entry bookkeeping, in accounting, is a system of book keeping where every entry to an account requires a corresponding and opposite entry to a different account. The double-entry has two equal and corresponding sides known as debit and credit. The left-hand side is debit and right-hand side is credit.

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Answer 2

Answer:

Explanation:

$Double-entry \:refers\: to \:an \:accounting$ $concept\: where\:by \:assets$ $= liabilities + owners' equity$. $In \:the\: double\:-\:entry \:system,$$transactions \:are \:recorded \:in \:terms$ $of \:debits \:and \:credits.\:$

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