• a system that a business uses to record its financial situation, where each sum of money is shown as money received in one part and money spent in the other part


    Double entry bookkeeping meaning & definition 1 of Double entry bookkeeping.


  • the most commonly used system of recording financial information, in which each amount spent or received is recorded twice. For example, an amount a company spends to buy supplies is recorded as a debit to the company in one account and as a credit to the seller of the supplies in another account:

    Double entry bookkeeping meaning & definition 2 of Double entry bookkeeping.

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