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The act of entering an amount on the left side of the account is called debiting the account, while posting an amount on the left side of the account is known as crediting the account. Note that the amounts on the left side (debit) and on the right side (credit) must equal to each other, otherwise the accounts will not balance. The system of debits & credits provides the basis for double-entry account system of recording financial events & transactions (this is sometimes referred to as double-entry bookkeeping). In every transaction, the total of all debits must equal the sum of all credits; this case applies when multiple accounts are affected on the accounting journal.

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