Provide a definition of each of the following accounting terms.
Definitions:
Double-Entry System
An accounting method that records each transaction in at least two accounts, ensuring the accounting equation (Assets = Liabilities + Equity) remains balanced.
Debit Accounts
Accounts that are increased by debits and decreased by credits, commonly including assets and expenses.
Credit Accounts
Financial accounts that track money owed to creditors; they increase with credit entries and decrease with debit entries, reflecting the entity's borrowing of funds.
Accounting Equation
The fundamental equation of double-entry bookkeeping, stating that Assets = Liabilities + Equity.
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