How do you understand debit and credit in accountancy?

1 answer

Answer

1243093

2026-04-27 16:25

+ Follow

a credit is pay out, debit is pay in

Debit and credit are part of the double-entry accounting system for adjusting different transactions in accounts.

When creating a T account debit just means "left side" and credit means "right side."

Debit comes from the Latin Word debere, and credit comes from the Latin Word credere.

ReportLike(0ShareFavorite

Copyright © 2026 eLLeNow.com All Rights Reserved.