Question

Credit and Debit explain for accounts

Answer 1

debit: 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.

credit: A credit is an accounting entry that either increases a liability or equity account, or decreases an asset or expense account.

Answer 2

Debits and credits balance each other out —if a debit is added to one account, then a credit must be added to the an opposite account. In accounting, the debit column is on the left of an accounting entry, while credits are on the right. Debits increase asset or expense accounts and decrease liability or equity.