What is Debit and Credit?
karonstewart Teacher Middle School Debit is a term used to describe the subtraction of a value, usually money. Credit is the term used to describe the addition of a value. For example, when you take money out of you checking account, it is a debit. Most banks issue “debit” cards for this purpose. Many companies pay their employees by having automatic “credits” made directly to their bank accounts. Any money added to your account is considered a “credit.” Rate answer: $(‘#ascore-259399’).istars(setAnswerRating); Flag as inappropriate Posted by karonstewart on Saturday September 4, 2010 at 12:43 PM krishna-agrawala Teacher Graduate School Debater Educator $(document).ready(function() { $(‘a.toggle_expert_titles’).click(function() { $(‘#show_expert_titles’).toggle(); return false; }); }); In accounting debit (Dr.) and credit (Cr.) are the two different types of impact any accounting transaction has in book of account. This is sometimes referred as dual concept of accounting system. As per
