Question

What does he debit in an asset account signify?​

Answer 1

In bookkeeping, a debit can signify an increase in an asset, an expense, and the owner's draws. A debit can also signify a decrease in a liability, revenues, and owner's equity. ... A debit is also the amount entered on the left-side of a T-account.

Answer 2

In bookkeeping, a debit can signify an increase in an asset, an expense, and the owner's draws. A debit can also signify a decrease in a liability, revenues, and owner's equity. ... A debit is also the amount entered on the left-side of a T-account.