What is the definition of the term debit as it relates to the accounting process?

relates to accounting

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please answer =] gogoWhat is the definition of the term debit as it relates to the accounting process?
Answer:



Debit means the left side of an account. If the amount is entered in this side, the amount is said to be debited.



Credit means the right side of an account. If the amount is entered in this side, the amount is said to be credited.



Debit and credit don't necessarily mean increase or decrease, respectively. It simply refers to what side the amount has been entered. The increase or decrease depends on what type of account is debited or credited.What is the definition of the term debit as it relates to the accounting process?
Not much, as one man's debit is another man's credit.

As a wise bookkeeper told me, "Debit means it goes in the left column."

Both assets and expenses are increased with debits, but a/p is decreased with a debit., etc.What is the definition of the term debit as it relates to the accounting process?
An accounting entry which results in either an increase in assets or a decrease in liabilities on a company's balance sheet
An amount of money recorded at the left side of an account indicating that the money was spent.

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