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Texas was the first state in the South to
Double-entry Accounting
An accounting system in which every transaction is recorded in at least two accounts, ensuring the accounting equation remains balanced.
Journal Entry
A record in accounting that represents every single transaction made by a company, detailing the financial activities.
Debits
Entries on the left side of a double-entry bookkeeping system that increase asset or expense accounts, or decrease liability, equity, or revenue accounts.
Debits
An accounting entry that results in either an increase in assets or a decrease in liabilities on a company's balance sheet or in an individual's bank account.
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