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debit
n
Example
The purchase of inventory was recorded as a debit to the inventory account and a credit to the cash account.
A debit to the Cash account increases the amount of cash on hand, while a credit to the Sales account records revenue from a sale.
When a company purchases supplies on credit, it records a debit to the Supplies Expense account and a credit to the Accounts Payable account.
He asked his bank to stop the direct debit for that gym membership.
