Why is the rule for debit and credit entries the same for liability and owners equity accounts?

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Why is the rule for debit and credit entries the same for liability and owners’

equity accounts?

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Hospitality Management Accounting

ISBN: 9780471092223

8th Edition

Authors: Martin G Jagels, Michael M Coltman

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Question Posted: Jun 28, 2024 01:10 AM

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Why is the rule for debit and credit entries the same for liability and owners equity accounts?

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Hospitality Management Accounting

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