What is debit and credit entry?
submitted by Hash

Arnold

In double entry bookkeeping there is are equal, offsetting entries, one a negative and the other a positive. First documented in Venice Italy, the positives were debits and the negatives were credits.

tracy

In double entry bookkeeping there are equal, offsetting entries, one a negative and the other a positive. First documented in Venice Italy, the positives were debits and the negatives were credits.

shiela

Debit-increase in asset while decrease in liabilities and owner's equity. Credit-decrease in assets while increase in liabilities and owner's equity.

fdelacruz

To asset accounts, a debit entry is an increase and a credit entry is a decrease.
To liabilities and equity accounts, a credit entry is an increase and a debit entry is a decrease.