Question

what are debit and credit?
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Answer 1

Answer:

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.

Answer 2

Answer:

debit : an amount of money paid out of a bank account

credit : a way of buying goods or services and not paying for them until later OR a sum of money that a bank, etc. lends to somebody

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