Question

explain all function of double entry system​

Answer 1

Explanation:

The main principle of the double-entry system is that for every debit there is a corresponding credit for an equal amount of money and for every credit there is a corresponding debit for an equal amount of money; i.e., for every transaction one account is debited for the amount of transaction and the other account i

Answer 2

Explanation:

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ᴛʜᴇ ᴍᴀɪɴ ᴘʀɪɴᴄɪᴘʟᴇ ᴏꜰ ᴛʜᴇ ᴅᴏᴜʙʟᴇ-ᴇɴᴛʀʏ ꜱʏꜱᴛᴇᴍ ɪꜱ ᴛʜᴀᴛ ꜰᴏʀ ᴇᴠᴇʀʏ ᴅᴇʙɪᴛ ᴛʜᴇʀᴇ ɪꜱ ᴀ ᴄᴏʀʀᴇꜱᴘᴏɴᴅɪɴɢ ᴄʀᴇᴅɪᴛ ꜰᴏʀ ᴀɴ ᴇQᴜᴀʟ ᴀᴍᴏᴜɴᴛ ᴏꜰ ᴍᴏɴᴇʏ ᴀɴᴅ ꜰᴏʀ ᴇᴠᴇʀʏ ᴄʀᴇᴅɪᴛ ᴛʜᴇʀᴇ ɪꜱ ᴀ ᴄᴏʀʀᴇꜱᴘᴏɴᴅɪɴɢ ᴅᴇʙɪᴛ ꜰᴏʀ ᴀɴ ᴇQᴜᴀʟ ᴀᴍᴏᴜɴᴛ ᴏꜰ ᴍᴏɴᴇʏ; ɪ.ᴇ., ꜰᴏʀ ᴇᴠᴇʀʏ ᴛʀᴀɴꜱᴀᴄᴛɪᴏɴ ᴏɴᴇ ᴀᴄᴄᴏᴜɴᴛ ɪꜱ ᴅᴇʙɪᴛᴇᴅ ꜰᴏʀ ᴛʜᴇ ᴀᴍᴏᴜɴᴛ ᴏꜰ ᴛʀᴀɴꜱᴀᴄᴛɪᴏɴ ᴀɴᴅ ᴛʜᴇ ᴏᴛʜᴇʀ ᴀᴄᴄᴏᴜɴᴛ ɪꜱ