Definition
An entry on the left side of a T-account. Increases assets and expenses; decreases liabilities, equity, and revenues.
D
Debit
Related Terms
Credit
An entry on the right side of a T-account. Increases liabilities, equity, and revenues; decreases assets and expenses. Think of it as the "right" thing for those account types.
T-Account
A visual tool shaped like a "T" used to illustrate debits (left side) and credits (right side) for an account. Helpful for learning double-entry accounting.
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