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How does Double-Entry Accounting work?

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How does Double-Entry Accounting work?

📚 New! Get my 2nd Edition Accounting Cheat Sheet Bundle → https://accountingstuff.com/shop How does Double-Entry Accounting work? Let's say a business takes out a $500 loan from a bank. What happens? Well, the business received Cash - which it owns - so its Assets go up. And at the same time, it records a Loan Payable to the bank. It owes ...

28.5K viewsApr 10, 2024

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