Question

what is Debit ? and Credit ?​

Answer 1

Answer:

debit

this increases assets or expense account

credit

is always positioned on the right hand side of an entry

Answer 2

Answer:

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A debit card is a plastic payment card that can be used instead of cash when making purchases. It is similar to a credit card, but unlike a credit card, the money is immediately transferred directly from the cardholder's bank account to pay for the transaction.

Credit is the trust which allows one party to provide money or resources to another party wherein the second party does not reimburse the first party immediately, but promises either to repay or return those resources at a later date.

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