"Debit" is the designation for the left side of an account, and "credit" is the designation for the right side of an account.

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This is a basic accounting principle known as the rules of debit and credit. Debits are used to record increases in assets and expenses, and decreases in liabilities, equity, and revenue. Credits are used to record decreases in assets and expenses, and increases in liabilities, equity, and revenue.

"Debit" Is the Designation for the Left Side of an Account