Differentiate between single entry and double entry system.
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in single entry system, only single entry is recorded which can be either debit or credit card transaction. in double entry system has double entry recording system . this is every debit record there is credit entry.
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In a single entry system, only single entry is recorded which can be either debit or credit transaction. On the other hand, double entry system has a double recording method in each transaction. This means that for every debit record there is a corresponding credit entry and vice versa
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