noun an entry recording a sum owed
verb to record a sum owed
Debit is a term used to indicate an amount owed or money withdrawn from an account.
Debit is taught as the opposite of credit in accounting and finance courses.
Debit is used to represent a decrease in a country's balance of trade or payments.
Debit is used to record decreases in assets, expenses, and dividends.
Debit refers to the act of subtracting funds from a bank account.
Debit is a payment method where funds are directly withdrawn from a customer's bank account.
In accounting, a writer may use the term 'debit' when discussing financial transactions and recording them in ledgers or financial statements.
A psychologist may use the term 'debit' when discussing cognitive biases related to decision-making, such as the tendency to focus on losses (debit) more than gains (credit).
An accountant uses the term 'debit' when recording the increase in assets or expenses in financial statements.
A banker may use the term 'debit' when processing transactions, such as debiting funds from a customer's account for a withdrawal or payment.
A financial analyst may use the term 'debit' when analyzing company financial statements to understand the flow of funds and financial performance.