When we debit something/someone we use the prefix'by' and when credited we use the prefix ' to'. give the reason.
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Debit means reduce from account. so its reduce "by". credit means u r adding " to" the account. Hence its "to".
Anonymous:
but in case of nominal a/c :
Answered by
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sorry, my friend these words are used for no particular meaning. There is no meaning of 'by' and 'to' with debit and credit. These are only used. Do not get confused.
******* this is written in T.S. Grewal's and my teacher also told this.
******* this is written in T.S. Grewal's and my teacher also told this.
so, u say there is no relation to prefixes TO n BY with debit n credit. am i right?
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