what is Debit?
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Answer / libin kulamuttom
Debit means writing an entry on the left-hand side of an account.The word debit is comes from the Latin word 'Debere'.That is why it is abreviated as 'Dr'.As per accounting rule expenses and asset will have debit balance.
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Debit is basically the liabilities that are expenced by the
organisation.E.g:-Salary,Wages,Bad Debt,Bonus Intrest on
Loan etc.
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