debit

Definition:

1. An entry in an account that represents an increase in the value of assets or a decrease in the amount of liabilities. It is conventional to make debit entries on the left-hand side of a written record of an account. Compare ‘credit’. 2. A decrease in the amount a customer of a bank has deposited with the bank. 3. To make an entry in an account representing an increase in the value of assets or a decrease in the amount of liabilities.



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