Explorations on a theme: "What is a transaction? "

3.  Banking

(Hint: click the other triangles to navigate to the other slides.)

All sales in America go thru two banks, either individually or aggregated into bank deposits.

The accounting records maintained by banks and their accountholders are mirror images of the same transaction:

The maintenance of accounting records for the same transaction within Banks' books and Accountholders' books, are a duplication of work.