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Answer Posted / faysalsam
Double entry means that first you book Receivable or Payable
against Sale or Purchase then post Received and Payment.
for e.g
A/c Receivable DR
Sales CR
then
Bank/Cash DR
A/C Receivable CR
In Single Entry directly post Expense or Income with
Receivable and Payable
Expense DR
Cash CR
Cash DR
Rent Income CR
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