what is credit and debit with some example to understand
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debit is deposit and credit is withdraw
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According to Accountancy Dr and cr. are a symbols of accountancy. When there will be increase in the value of Asets & expenses it will be debited and if there will be increase in the value of Liabilities , Income, and capital it will be credited and vice versa.
Eg. purchase goods for cash
Purchase account will be debited and cash will be credited.
Eg. purchase goods for cash
Purchase account will be debited and cash will be credited.
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