Question

hii friend good morning .

my question is here
what is difference between debit and credit.

Answer 1

The basis difference between credit and debit is that.

The key difference between the two is that all the money deposits in your account is debit in your accounts.

Where as all the money withdrawn by you from your account will be credited in your account.

Which also means your are the debtor and the person to whom you are paying is your creditors.

Best example is an ATM card.

All savings atm cards are debit card.
Whereas all atm cards which you will have to pay again all the amount you spend is called credit card.

Answer 2

Hey, here is your answer

Debit means an ammount of money paid out of a bank account.

Whereas, credit is a way of buying goods or services and not paying for them until later.

HOPE IT HELPS YOU