Question

At its core, what is the essence of the accounting debit and credit system?

Answer 1

Answer:

Explanation:

Debits and credits are essential to the double entry system. In accounting, a debit refers to an entry on the left side of an account ledger, and credit refers to an entry on the right side of an account ledger. To be in balance, the total of debits and credits for a transaction must be equal.