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Debit - What is a Debit?
A debit is an expense, or money paid out from an account, that results in the increase of an asset or a decrease in a liability or owners equity. Debit is the positive side of a balance sheet account, and the negative side of a result item.
In bookkeeping, debit is an entry on the left side of a double-entry bookkeeping system that represents the addition of an asset or expense or the reduction to a liability or revenue. The opposite of a debit is a credit.
An overview of debit in accounting
A debit will increase these accounts:
A debit will decrease these accounts:
Balance remaining after one or a series of bookkeeping entries. This amount represents an asset or an expense of the entity. (See balance.)
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