egy80s
Nov 13, 2006, 12:15 PM
What's the diffeent between debit and credit
ScottGem
Nov 13, 2006, 12:27 PM
They are the exact opposites. A debit is taken out a credit is put in.
CaptainForest
Nov 13, 2006, 05:59 PM
Scott is only partially correct.
They are indeed exact opposites.
Bus a debit can be putting something in and a credit can be taking something out.
On the assets sides, debt = increase and credit = decrease while on the liability/owner's equity side, it is reverse.