



Learning Objectives :
complete the table ,showing the accounts to be debited and credited.

what is meant by Double entry system ?
The system of double entry is a method of recording transaction in the books of account of a business.

Rules for Double entry
1. For every debit there is a credit entry
2. The order in which the items are are entered does not matter
3. A debit entry is always an asset or expense and a Credit entry is a liability, capital or income.
what is a T-account ?
A T -account is the type of account that will be demonstrated or drawn as "T" . on the left hand side is debit and the right side is the credit side
summary
This chapter covers the concept of double entry , where every transaction affects two things. Each item has to be entered twice in the book-keeping records once on the debit( left hand side) and once on the credit side (right hand side of an account.
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Learning Objectives :
complete the table ,showing the accounts to be debited and credited.

what is meant by Double entry system ?
The system of double entry is a method of recording transaction in the books of account of a business.

Rules for Double entry
1. For every debit there is a credit entry
2. The order in which the items are are entered does not matter
3. A debit entry is always an asset or expense and a Credit entry is a liability, capital or income.
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