Question

What is difference between credit and debit in accounting?

Answer 1

Answer:

Credit accounting means when a person gives the amount of money to the bank where as debit accounting means when we r withdrawing money from the bank.

Explanation:

Hope it helps u

Answer 2

Answer:

Credit : -

The amount of money which we deposit into our bank is known as credit balance .

Debit :-

The amount of money which we withdraw from our bank is known as debit balance.