What is debit and what is credit?

In double entry bookkeeping, debits and credits are entries made in account ledgers to record changes in value due to business transactions. Generally speaking, the source account for the transaction is credited and the destination account is debited

                                           Debit                  CredittAsset                               Increase          DecreaseLiability                           Decrease         IncreaseIncome/Revenue          Decrease         IncreaseExpense                         Increase          DecreaseEquity/Capital               Decrease         Increase