Question

Difference between debit and credit in accounting

Answer 1

Explanation:

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

Debit is money going out of account and credit is money which coming in