Bookkeeping

• Did you take bookkeeping in high school?

• Remember that every transaction has a debit on one side of the ledger and a credit on the other?

  • Double-entry bookkeeping

• Repeat after me:

  • "One person's spending is another person's income."

  • "One person's financial asset is another person's financial liability."

  • "One person's credit is another person's debt."