concept of debit and credit in accountancy?
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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. A credit is an accounting entry that either increases a liability or equity account, or decreases an asset or expense account.
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Debit: debit means whats goes out from your bank account and it is coming from the word Debitam .
Credit: credit means what comes in in your bank account and it is comeing from the word Credere.
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