What did you meant by Debit and Credit?
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Answer / soumya prakash ganguly
A debit is an accounting entry that either increases an asset or expense account, or decreases a liability or equity account. It is positioned to the left in an accounting entry. A credit is an accounting entry that either increases a liability or equity account, or decreases an asset or expense account.
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Answer / shiva goud
debit means in accounting an entry recording a sum received, listed on right side of the account.
credit means an entry recording a sum owed, listed on left side of the account.
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