Debit or Credit? Posted By : Samuel Charlie
The frist time I have learnt accouting, the terms ‘debit’ and ‘credit’ can be a bit confusing. Debit is an amount entered on the left-hand side of an account. Asset and expense accounts are increaed by debiting, that is, by entering amounts in the left-hand column. Credit is an amount entered on the right-hand side of an account. Liability, captial, and income accounts are increased by crediting, that is, by entering amounts in the right-hand column.
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