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leonid [27]
1 year ago
15

Under the double-entry system of accounting, a debit is always a negative entry.

Business
1 answer:
mrs_skeptik [129]1 year ago
8 0

It is a false statement that a debit is always a negative entry under the double-entry system of accounting,

<h3>What is the double-entry system?</h3>

In accounting, this refers to the system for recording transactions based on recording increases and decreases in accounts so that debits equal credits.

Hence, the double-entry system requires that each transaction must be recorded in at least two different accounts.

Read more about double-entry system

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March 1    Equity investment                          $32,000

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