Lexic.us

Definition of Debit

1. Verb. Enter as debit.

2. Noun. An accounting entry acknowledging sums that are owing.

Definition of Debit

1. n. A debt; an entry on the debtor (Dr.) side of an account; -- mostly used adjectively; as, the debit side of an account.

2. v. t. To charge with debt; -- the opposite of, and correlative to, credit; as, to debit a purchaser for the goods sold.

Definition of Debit

1. Noun. In bookkeeping, an entry in the left hand column of an account to record a debt. ¹

2. Noun. A sum of money taken out of an account. ¹

3. Verb. To make an entry on the debit side of an account. ¹

4. Verb. To remove a sum of money from an account as a payment. ¹

5. Adjective. of or relating to process of taking money from an account ¹

6. Adjective. of or relating to the debit card function of a debit card rather than its often available credit card function {as used by US Postal Service, Walmart, and other payees} ¹

¹ Source: wiktionary.com

Definition of Debit

1. to charge with a debt [v -ED, -ING, -S]

Lexicographical Neighbors of Debit

debes debiasing debile debilitant debilitants debilitate debilitated debilitates debilitating debilitation

debilitations debilitative debilities debility debismuthization debit (current term) debit card debit cards debit entry debit side

debitable debitage debite debited debiting debitor debitors debits debitter debittered

Literary usage of Debit

Below you will find example usage of this term as found in modern and/or classical literature:

1. The Fundamentals of Accounting by William Morse Cole, Anne Elizabeth Geddes (1921)
"CHAPTER IV THE INTERPRETATION OF debit AND CREDIT Nature of debit and Credit. ... Let us first summarize our discussion of debit and credit to this point. ..."

2. Accounting Theory and Practice by Roy Bernard Kester (1917)
"The debit and Credit Schedule Bearing in mind the customary distinction between debit and credit, and the fact that entry of a transaction is always made ..."

3. Accounts, Their Construction and Interpretation: Their Construction and by William Morse Cole (1908)
"Credit (from the Latin credit, he intrusts) means the converse of debit, ie, ... So far as mere debit and credit are concerned, the two types of ..."

4. Factory Accounts, Their Principles and Practice: A Handbook for Accountants by Emile Garcke, John Manger Fells (1902)
"These Stock debit Notes will be duly entered in a Stock Returned by Customers Book ... 45), which will be posted to the debit side of the Stock Ledger. ..."

5. Emerging Electronic Methods for Making Retail Payments by Judith S. Ruud, Philip Webre (1996)
"Existing Payment Methods In a typical purchase using a debit card, ... The network also contacts the two banks, which debit the customer's account and ..."

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