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Asked Nov 29, 2019
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Do the terms debit and credit signify increase or decrease, or can they signify either? Explain.

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Expert Answer

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Debit: A debit, in an accounting term refers to the left side of an account. The term debit can be denoted by (Dr). The amounts which are recorded on the left side of the account are known as debiting.

 

Credit: A credit, in an accounting term r...

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