One is the assets of the business and the other the claims against them. In other words
Assets = Capital + Liabilities
Double entry is the name given to the method of recording the transactions so that the dual aspect concept is upheld.
One is the assets of the business and the other the claims against them. In other words
Assets = Capital + Liabilities
Double entry is the name given to the method of recording the transactions so that the dual aspect concept is upheld.
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