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by insane_dreamer
803 days ago
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Because double-entry accounting requires two (thus "double") entries for each transaction (i.e., Alice buys a book) - one for the assets/liabilities account involved in sending or receiving the money ($30 credit, bank account)
- one for the income/expense account to which the transaction corresponds ($30 debit, "education" expense account) one of the two entries is a credit and the other a debit |
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