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Debit simply means an entry on the left side of an account. It indicates an increase in an asset, a decrease in a liability or decrease in a shareholder's equity.
Credit simply means an entry on the right side of an account. It indicates a decrease in an asset, an increase in a liability or an increase in a shareholder's equity.
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Debit and Credit Definitions of debit and credit and what they indicate
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Posted 10 February 2010 - 01:14 AM
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