What is credit or debit entries.what type of entries we enter both?

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Originally Posted by hinaiqbal

what is credit or debit entries.what type of entries we enter in both?

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normally used the debit and credited in the transcation
lilke if you buy car in cash?
dedit car
credited cash

if buy car in loan/credit?

debit car
credit bank/loan

If you have an asset, operating expense:
To increase it, DEBIT it
To decrease it, CREDIT it.

If you have a liability, capital, sales revenue, contra assets such as depreciation expense:
To increase it, CREDIT it
To decrease it, DEBIT it.

The thing which we get is debit.
The thing which we invest is credit.

Ramesh buy a car at 10% discount which cost is rs 400000.