Accountancy, asked by s1238abhijeet6152, 5 months ago

what is double entry system?​

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Answered by Anonymous
3

Answer:

Double Entry System:-

Double Entry System is a system of accounting deals with either two or more accounts for every business transaction. For instance, a person enters a transaction of borrowing money from the bank. So, this will increase the assets for cash balance account and simultaneously the liability for loan payable account will also increase.

Answered by Anonymous
1

REQUIRED 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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