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What is Debit (Accounting)
Debit (in accounting) is an amount that is written in a company’s financial account to show a decrease in money that the company owes or an increase in the value of its assets.

Debit (in accounting) is an amount that is written in a company’s financial accounts to show a decrease in money that the company owes or an increase in the value of its assets.

Debit in practice: Debit is an entry on the left-hand side of an account in double-entry bookkeeping that increases either assets or the recorded expenditure of the organization.

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Last update: 27.03.2016

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