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Debit |
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Debit An expense, or money paid out from an account. A debit transaction is one which the net cost is greater than the net sale proceeds. See also Credit.
Debit. A debit is the opposite of a credit. A debit may be an account entry representing money you owe a lender or money that has been taken from your account. For example, your bank debits your checking account for the amount of a check you've written, and your broker debits your investment account for the cost of a security you've purchased. Similarly, a debit card authorizes the bank to take money out of your bank account electronically, either as cash or as an on-the-spot payment to a merchant. That's different from a credit card, which authorizes you to borrow the money from the card issuer. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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By 2005, after trading debits and credits for robbers and drug dealers, he was an officer with five years on the job. Second, companies have to fill the accounting holes left when the auditor could no longer help them get the complex debits and credits right. Precise allocations of returns by debits and credits were not available. |
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