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-   -   Debit and credit (https://www.askmehelpdesk.com/showthread.php?t=42602)

  • Nov 13, 2006, 12:15 PM
    egy80s
    Debit and credit
    What's the diffeent between debit and credit
  • Nov 13, 2006, 12:27 PM
    ScottGem
    They are the exact opposites. A debit is taken out a credit is put in.
  • Nov 13, 2006, 05:59 PM
    CaptainForest
    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.

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