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
journal entry
calls in arrear
deficit
surplus
directional testing
See All Related Terms »

SL
Black's model
prompt
back
Trade or Fade Rule