what is meant by debit and credit
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Answer Posted / madhusudan chauhan
debit word origin from the debt it maens that u r making
any company or person in debt.
if u are giving money to any person in this condition he is
debtors ex. you paid 100 rs to 'b' so b is debit in your
books
and credit means any company gives the money just like 'a'
gives u money so a credit in the books
give money to 'a'= a dr.
come money from 'a'= a cr.
that's a simple funda
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