Journal entries include both debit and credit accounts for each transaction.

Name: Journal entries include both debit and credit accounts for each transaction.
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Question

Quizplus · Accepted Answer

Journal entries are recorded using the double-entry bookkeeping system, which requires each transaction to have both a debit and credit account. This ensures that the total debits and credits in the accounting system remain equal and balanced.

Journal Entries Include Both Debit and Credit Accounts for Each