What does DEBIT mean?

Debit

Part of Speech: Noun, verb

Definition: As a noun, debit refers to an entry on the left side of an account, which represents an increase in assets or a decrease in liabilities. As a verb, it means to record a sum as a debit in an account.

Pronunciation (US): /ˈdɛbɪt/

Pronunciation (UK): /ˈdɛbɪt/

Origin and Usage: The word debit comes from the Latin word "debitum," meaning "something owed." It has been used in English since the 15th century and is commonly used in accounting and finance contexts.

Synonyms: Charge, entry, item, record, posting.

Related Words: Credit, asset, money, check, funds.

Example Sentences:

• When the company purchased new equipment, they debited the amount to the fixed assets account.
• He forgot to debit the payment from the customers account.
• The bank debited her account for the monthly service fee.
• He had to debit his savings account to pay for the unexpected car repair.