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Application of Double Entry System — Accounting Keypoint

Application of Double Entry System

The rule of double entry stipulates that in every debits entry, there must be a corresponding credit entry and vice versa. This rule also applies in the control ledger account where we control account, whether it is a debtor’s ledger control account or a credit ledger control account. This reason is so because its double entry can be completed by opening the “General ledger adjust account” which must be in the opposite side.

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