Transactions are recorded or posted to the ledger in line with

Show how the following transaction will be recorded applying the double-entry principle:
Rent ₦50,000 was paid by Mr. Roi to his landlord on 1st July 2017 by cheque.

A statement in a double-entry system in which are recorded all the transactions of one specific class, which takes place during the period is called

The advantage of double entry is that

Accounts can be classified into