Business managers and accountants commonly use double entry bookkeeping to record business transactions and compose financial statements. Journal entries are initial records of the day-to-day ...

Yarilet Perez is an experienced multimedia journalist and fact-checker with a Master of Science in Journalism. She has worked in multiple cities covering breaking news, politics, education, and more.

Although no one knows when double-entry accounting first emerged, but Italian mathematician and Franciscan friar Luca Pacioli wrote the first codified system describing the technique in the late 1400s ...