Double entry bookkeeping
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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
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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:
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