What is double-entry accounting?

Answer 1

The double entry system of accounting or bookkeeping means that every business transaction will involve two accounts (or more). For example, when a company borrows money from its bank, the company's Cash account will increase and its liability account Loans Payable will increase.

Answer 2

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1. IN Double entry system every transaction have two effect . debit and
   credit effect.
   PURCHASED A/C DR 1000
   **TO CASH A/C CR 1000

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