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Debit

DEBIT

A sum charged as due or owing. An entry made on the asset side of a ledger or account. The term is used in bookkeeping to denote the left side of the ledger, or the charging of a person or an account with all that is supplied to or paid out for that person or for the subject of the account. Also, the balance of an account where it is shown that something remains due to the party keeping the account.

As a noun, an entry on the left-hand side of an account. As a verb, to make an entry on the left-hand side of an account. A term used in accounting or bookkeeping that results in an increase to an asset and an expense account and a decrease to a liability, revenue, or owner'sequityaccount.

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"Debit." West's Encyclopedia of American Law. . Encyclopedia.com. 23 Aug. 2017 <http://www.encyclopedia.com>.

"Debit." West's Encyclopedia of American Law. . Encyclopedia.com. (August 23, 2017). http://www.encyclopedia.com/law/encyclopedias-almanacs-transcripts-and-maps/debit

"Debit." West's Encyclopedia of American Law. . Retrieved August 23, 2017 from Encyclopedia.com: http://www.encyclopedia.com/law/encyclopedias-almanacs-transcripts-and-maps/debit

debit

deb·it / ˈdebit/ • n. an entry recording an amount owed, listed on the left-hand side or column of an account. The opposite of credit. ∎  a payment made or owed. • v. (deb·it·ed , deb·it·ing ) [tr.] (usu. be debited) (of a bank or other financial organization) remove (an amount of money) from a customer's account, typically as payment for services or goods. ∎  remove an amount of money from (a bank account). PHRASES: on the debit side as an unsatisfactory aspect of the situation: on the debit side, they predict a rise in book prices.

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"debit." The Oxford Pocket Dictionary of Current English. . Encyclopedia.com. 23 Aug. 2017 <http://www.encyclopedia.com>.

"debit." The Oxford Pocket Dictionary of Current English. . Encyclopedia.com. (August 23, 2017). http://www.encyclopedia.com/humanities/dictionaries-thesauruses-pictures-and-press-releases/debit

"debit." The Oxford Pocket Dictionary of Current English. . Retrieved August 23, 2017 from Encyclopedia.com: http://www.encyclopedia.com/humanities/dictionaries-thesauruses-pictures-and-press-releases/debit

debit

debit †debt XV; entry of a sum owing XVIII. — L. dēbitum DEBT; in the later sense — F. débit.

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"debit." The Concise Oxford Dictionary of English Etymology. . Encyclopedia.com. 23 Aug. 2017 <http://www.encyclopedia.com>.

"debit." The Concise Oxford Dictionary of English Etymology. . Encyclopedia.com. (August 23, 2017). http://www.encyclopedia.com/humanities/dictionaries-thesauruses-pictures-and-press-releases/debit-0

"debit." The Concise Oxford Dictionary of English Etymology. . Retrieved August 23, 2017 from Encyclopedia.com: http://www.encyclopedia.com/humanities/dictionaries-thesauruses-pictures-and-press-releases/debit-0