debits

/D EH1 B IH0 T S/

noun

1
In bookkeeping, an entry in the left hand column of an account.
“A cash sale is recorded as debit on the cash account and as credit on the sales account.”
2
A sum of money taken out of a bank account. Thus called, because in bank's bookkeeping a cash withdrawal diminishes the amount of money held on the account, i.e. bank's debt to the customer.

verb

1
To make an entry on the debit side of an account.
2
To record a receivable in the bookkeeping.
“We shall debit the amount of your purchase to your account.”

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