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Understanding Debits and Credits
In accounting, numbers are recorded in two accounts. Debits or the debit column is on the left, and creditors or the credit column is on the right. A debit is an accounting entry that either increases an asset or an expense account account or decreases a liability or an equity account.
In contrast, a credit is an accounting entry that either increases a liability or an equity account or decreases an asset or an expense account.
By Michael C. Dennis