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Can you briefly explain the difference between credit and debt ?

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Question added by ismail mohamed ali
Date Posted: 2015/09/15
Mabel Quarshie
by Mabel Quarshie , Banqueting Waitress

For  accounting purposes, an account is credited when money is been paid out whiles debited when money is been paid in and thus expenses are credited whiles revenues are debited. therefore, a debit normally will increase an asset account whiles a credit will decrease an asset account

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