Question

what is a credit and debit​

Answer 1

Answer:

Debits and credits are equal but opposite entries in your books. If a debit increases an account, you will decrease the opposite account with a credit. A credit is an entry made on the right side of an account. It either increases equity, liability, or revenue accounts or decreases an asset or expense account.

Answer 2

Answer:

A debit increases asset or expense accounts, and decreases liability, revenue or equity accounts. A credit is always positioned on the right side of an entry. It increases liability, revenue or equity accounts and decreases asset or expense accounts.