what is double entry system?
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Double Entry System is a complete and scientific system of accounting in which both the aspects of a transaction are recorded. Every business transaction has a two-fold effect. It is this recording of the two-fold effect of every transaction that has given rise to the term Double Entry System.
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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 2 equal and corresponding sides know as debit and credit .The left-hand side is debit and right-hand side is credit.
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