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1) What is mean by debit, credit
2) what is mean by purchase, sales
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Answer Posted / bittu
Debit and Credit are formal bookkeeping and accounting
terms,those have opposite meanings and come from Latin
word. Debit derived as 'debere', which means "to owe". The
Latin debitum means "debt". Credit comes is also from Latin
word 'credere', which means "to believe
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