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Answer Posted / komal
The first thing one needs to do when learning about debits and credits is to concentrate on the accounting definition for debit and credit and forget any other connections for a second. For instance, a debit is not a debt, though they both were derived from the same Latin root. Credit, as it is used for lending, comes closer to having the same meaning, but it isn't exact. To make debits and credits easier to understand, please forget these meanings and concentrate on the accounting meanings only.
Debit is an increase to an asset or expense account,
or a decrease to a liability,equity or income account.
Credit is An increase to a liability, equity, or income account,or a decrease to an assets or expense account.
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