Explain in a simple way what does debit and credit mean?

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1158181

2026-03-04 21:20

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The literal definitions of Debit and Credit in financial accounting are

Debit. (1) The left side of the account. (2) the amount entered on the left side of an account. (3) To enter an amount on the left side of an account.

Credit, same as above only it is entered on the RIGHT side of the account.

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