Question

what is single entry system and how is it different from double entry system​

Answer 1

Answer:

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.

Answer 2

Answer:hey mate here is your answer

Single entry system-A single entry bookkeeping system or single entry accounting system is a method of bookkeeping relying on a one-sided accounting entry to maintain financial information.It is also known as in computer and scientific method for recording transactions

double entry system-A double entry bookkeeping and accounting is a system of bookkeeping so named because every entry to an account requires a corresponding and opposite entry to a different account. The double entry as two equal and corresponding sides is known as debit and credit