Debit (DR)
Encyclopedia of Business Terms and Methods, ISBN 978-1-929500-10-9. Copyright © 2011. Marty J.Schmidt.
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in popular usage, debit often means simply to subtract an amount from account, as in "We have debited your bank account to cover the cost of..."
In accounting and bookkeeping, however, a debit transaction ( DR) is exactly the opposite of a credit (CR) transaction: a debit is an entry that increases assets and expenses, or which decreases liabilities, owner’s equities, and revenues.
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