U.S. Chamber of Commerce
U.S. Chamber of Commerce

Debit


A debit is one of two values in an accounting entry. For every debit there is an equal and offsetting credit. At least one component of every accounting transaction (journal entry) is a debit amount. Debits increase assets and decrease liabilities and equity. For this reason, you will see debits entered on the left-hand side (the asset side of the accounting equation) of a two-column journal or ledger.


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