<Tr> <Td> <Ul> <Li> </Li> <Li> </Li> <Li> </Li> </Ul> </Td> </Tr> <Ul> <Li> </Li> <Li> </Li> <Li> </Li> </Ul> <P> Double - entry bookkeeping, in accounting, is a system of bookkeeping so named because every entry to an account requires a corresponding and opposite entry to a different account . For instance, recording earnings of $100 would require making two entries: a debit entry of $100 to an account named "Cash" and a credit entry of $100 to an account named "Revenue ." </P> <P> Deciding which account has to be debited and which account has to be credited is accomplished using the accounting equation which is expressed as, Assets = Equity + Liabilities (\ displaystyle (\ text (Assets)) = (\ text (Equity)) + (\ text (Liabilities))). This equation serves as an error detection tool; if at any point the sum of debits for all accounts does not equal the corresponding sum of credits for all accounts, an error has occurred . </P>

What do you mean by double entry system of accounting