Comment by rawgabbit
1 year ago
Yes exactly. With assets liabilities and equity having a left and right entry, they were following the convention when posting a journal entry to the ledger, left entries must equal right entries. (Debits must equal credits). Because A=L+E, we get assets to the left and liabilities to the right.
Appreciate your confirmation. If you have any blog about double entry accounting (or accounting in general), I'll be interested to read it. I have nothing to do with accounting in my professional life but I've always been curious about it.
I like this free site written by a CPA. https://www.accountingverse.com/