Question

"every debit must have a corresponding credit" explain

Answer 1

Thus, every debit must have a corresponding credit and vice versa and upon the dual aspecthas been raised the whole structure ofDouble Entry System of Accounting.•The Accounting Equation [i.e. Assets= Equities ( or Liabilities + Capital )] is based on dualaspect concept.•Thus, accounting equation demonstrates the factthat for every debit there is an equivalentcorresponding credit.9