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Define debit and credit?

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Question ajoutée par Abdul Rahim Said Rahim , Senior Executive - Business Development , Al Ruwais Plastic Products Trading LLC
Date de publication: 2013/06/23
manaf almas
par manaf almas , Auditor , DAR AL NUZUM PUBLIC ACCOUNTANTS

simply we can prepare trial balance debit all expenses and assets & credit all libilities and incomes .in case of p&L AC debit all expenses and losses , credit all incomes and gains

Sameer Radi
par Sameer Radi , Finance Manager , RAK PRECAST

an easy defention of debit and credit its : Rights & Obligation respectivly .

maricar ribo
par maricar ribo , Document Controller , SS Lootah International

debit what comes in,credit what goes out.

a double entry accounting system in which if there is increase in assets we record in debit side of the ledger or general journal and if there is decrease in asset we record in the credit side

Arjun Unnikrishnan
par Arjun Unnikrishnan , Lecturer , 2012 at Achievers Learning Company

i would like to answer this in more simpler terms.
Debit= Assets.
Credit= Liabilities

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