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why debit is called debit.& why debit is on left side,why
not on right side ?
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Answer / madhavi.p
DEBIT IS SOMETHING WE HAVE GIVE/RETURN, I.E., ACCOUNTS
PROCEDURE AND RULE CANNOT BE CHANGED
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Answer / akshay lddha
These terms have been derived from Latin Word Deberie And Credere Which means Giving and Taking respectively that is why we use Debit and credit in accounting and it is on left side because of significance of old accounting method of Bahi khata in which whenever we give some amount to any person it was written at left side.
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