Difference between revisions of "Debit"
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*[[Bookkeeping]]. Recording, filing, and retrieving of [[financial data]], as well as producing those [[financial report]]s that are required by laws. | *[[Bookkeeping]]. Recording, filing, and retrieving of [[financial data]], as well as producing those [[financial report]]s that are required by laws. | ||
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*[[Bookkeeping Quarter]]. | *[[Bookkeeping Quarter]]. | ||
[[Category: Septem Artes Administrativi]][[Category: Articles]] | [[Category: Septem Artes Administrativi]][[Category: Articles]] | ||
Latest revision as of 19:34, 4 January 2019
Debit (alternatively known as debit entry and commonly abbreviated Dr because of Latin debere) is any entry into financial books that either increases asset-origin accounts or decreases equity-origin accounts. Any journal entry contains at least one debit. In a T-account, a debit balance is found on the left-hand side. A number entered on the left side of any T-account is said to be debited to this account.
Definitions
According to College Accounting: A Practical Approach by Slater (13th edition),
- Debit. The left-hand side of any account. A number entered on the left side of any account is said to be debited to an account.
Related concepts
- Bookkeeping. Recording, filing, and retrieving of financial data, as well as producing those financial reports that are required by laws.
