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Debit (Noun)

Meaning

An accounting entry acknowledging sums that are owing.

Classification

Nouns denoting possession and transfer of possession.

Examples

  • The company's accounts receivable listed several outstanding debits from customers who had not yet paid their bills.
  • In this transaction, the debit represents the decrease in cash, an asset account, of $100.
  • A debit is typically entered on the left side of the ledger and shows the source of the funds.
  • The debit to the accounts payable account represents the amount the company owes to its creditors.
  • By entering a debit of $500 to the supplies expense account, the accountant properly recorded the purchase in the company's ledger.

Synonyms

  • Debit Entry

Antonyms

  • Credit

Hypernyms

  • Ledger Entry
  • Accounting Entry

Related Words

  • Debit (verb)
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