debit - What does it mean?
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Definition of 'debit'Noun
( en-noun)
In bookkeeping, an entry in the left hand column of an account.
- A cash sale is recorded as debit on the cash account and as credit on the sales account.
A sum of money taken out of a bank account. Thus called, because in bank's bookkeeping a cash withdrawal diminishes the amount of money held on the account, i.e. bank's debt to the customer.
Derived terms
* debit card
Related terms
* debt
* debitor
* debenture
See also
* credit
Verb
( en-verb)
To make an entry on the debit side of an account.
To record a receivable in the bookkeeping.
- ''We shall debit your account for the amount of the purchase.
- We shall debit the amount of your purchase to your account.
Adjective
(-)
of or relating to process of taking money from an account
of or relating to the debit card function of a debit card rather than its often available credit card function {as used by US Postal Service, Walmart, and other payees
Antonyms
* credit
Derived terms
* debit card
External links
*
*
Anagrams
*
Similar to 'debit'debt, doubt, defeat, deft, duvet, davit, devout, daft, debut, depot, dept, divot, defat, dipt, divet
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