debit
A journal entry recording a subtraction from assets. With cash basis accounting, debits are recorded when a debt or other obligation is paid. With accrual basis accounting, debits are recorded and recognized when a debt or other obligation becomes owed. Compare to credit.
Browse by Subjects
red
deficit
journal entry
surplus
calls in arrear
See All Related Terms »

First Board
profit related pay
rights offering
manpower forecasting
variance accounting