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Define the debit and credit notes

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Define the debit and credit notes

Posted by Shahwaj Khan 6 years ago

CBSE > Class 11 > Accountancy

1 answers

Anuj Thakur 6 years ago

A debit is an accounting entry that either increases an asset or expense account, or decreases a liability or equity account. It is positioned to the left in an accounting entry. A credit is an accounting entry that either increases a liability or equity account, or decreases an asset or expense account.

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