noun🔗ShareIn 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."businessfinanceeconomyChat with AIVocabulary GamePractice Reading
noun🔗ShareA 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."The monthly debits for rent and utilities automatically come out of my checking account. "financebusinesseconomyassetamountChat with AIVocabulary GamePractice Reading
verb🔗ShareTo make an entry on the debit side of an account."The bank debits my account $5 each month for the online banking service. "businessfinanceeconomyChat with AIVocabulary GamePractice Reading
verb🔗ShareTo record a receivable in the bookkeeping."We shall debit the amount of your purchase to your account."businessfinanceeconomyChat with AIVocabulary GamePractice Reading
