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- DictionaryDeb·it/ˈdebit/
noun
- 1. an entry recording an amount owed, listed on the left-hand side or column of an account: "a double-entry system of bookkeeping, where each debit has a corresponding credit entry"
verb
- 1. (of a bank or other financial organization) remove (an amount of money) from a customer's account, typically as payment for services or goods: "$10,000 was debited from their account"
noun. 1. a. : a record of an indebtedness. specifically : an entry on the left-hand side of an account constituting an addition to an expense or asset account or a deduction from a revenue, net worth, or liability account. b. : the sum of the items entered as debits. 2. : a charge against a bank deposit account.
May 22, 2024 · A debit is an accounting entry that results in either an increase in assets or a decrease in liabilities on a company’s balance sheet. In fundamental accounting, debits are balanced by...
Debit definition: the recording or an entry of debt in an account.. See examples of DEBIT used in a sentence.
DEBIT definition: 1. (a record of) money taken out of a bank account: 2. to take money out of an account or keep a…. Learn more.
Debits and credits are terms used by bookkeepers and accountants when recording transactions in the accounting records. The amount in every transaction must be entered in one account as a debit (left side of the account) and in another account as a credit (right side of the account).
A debit is an expense, or money paid out from an account, that results in the increase of an asset or a decrease in a liability or owners equity. Debit is the positive side of a balance sheet account, and the negative side of a result item.
Definition: A debit is an accounting term for an entry made on the left side of an account. Many times debit is abbreviated as Dr.The double entry accounting system is based on the concept that total debits always equal total credits.
Jan 19, 2024 · A debit is an accounting entry that either increases an asset or expense account, or decreases a liability or equity account. It is positioned to the left in an accounting entry. In journal entries, a debit may be indicated with the abbreviation “dr.” The reverse of a debit is a credit.
debit (as in debit and credit) definition. The accounting term that means an entry will be made on the left side of an account. To learn more about debits and credits, see our Debits and Credits Outline.
A debit, sometimes abbreviated as Dr., is an entry that is recorded on the left side of the accounting ledger or T-account. Conversely, a credit or Cr. is an entry on the right side of the ledger.
