Question

define debit and credit

Answer 1

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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Answer 2

A debit is an accounting entry that either increases as an asset all expense account or decreases a liability or equity account . It is positioned to the left in accounting entry.

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