Accrual-Accounting-and-Financial-Statements_3-Compatibility-Mode CHAPTER Recording Transactions 3 © 2010 Pearson Education Inc. Publishing as Prentice Hall Introduction to Financial Accounting, 10/e
What are Recording Transactions? For the most accurate anduseful financial statements,accountantsrecord transactions using double entry bookkeeping. Each transaction is entered in two accounts: debits and credits. These two entries are equal and opposite. Listing everything twice can help companies catch...