Debit (DR)

    The phrases debit and credit are both Latin in origin. The word debit and credit are derived from the Latin words debitum, which means “what is due,” and credited, which means “something handed to another or a loan.”
    When you add assets to an account, the change is a debit because something has to be paid for that increase (the asset’s price). On the other side, an increase in liabilities is a credit because it represented money borrowed from someone else and used to buy something (the cause of the corresponding debit in the assets account).
    Depending on the type of account, the terms debit and credit refer to actual accounting processes that generate increases and decreases in budgets.

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