Credit
Credit (alternatively known as credit entry and commonly abbreviated Cr because of Latin credere). Any entry into financial books that either increases equity-origin accounts or decreases asset-origin accounts. Any journal entry contains at least one credit entry.
Definitions
According to College Accounting: A Practical Approach by Slater (13th edition),
Related concepts
- Bookkeeping. Recording, filing, and retrieving of financial data, as well as producing those financial reports that are required by laws.
