debit entry

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Quick Reference

An entry made in double-entry book-keeping on the left-hand side of an account. It records either an increase in an asset or expense or a decrease in a liability, revenue, or equity item. For example, cash paid into the bank from a debtor will increase the asset of cash. The entries to be made are debiting the bank and crediting the debtors’ ledger control account. Compare credit entry.

Subjects: Accounting.

Reference entries

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