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Debit for Dummies

noun

pronunciation: 'dɛbɪt

What does Debit really mean?

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Sure, I'd be happy to help! So, "debit" is a word that is often used when talking about money. When you use a debit card to pay for something, it means that the money is taken directly from your bank account. Another way to think about it is like taking money out of your wallet to buy something. It's kind of like the opposite of when you put money into your bank account, which is called a "credit."

So, to sum it up, "debit" means using money from your bank account to make a purchase, whether it's in person at a store or online. It's like using your own money instead of borrowing it from the bank. Does that make sense? Let me know if you have any more questions!

Revised and Fact checked by Mia Harris on 2023-11-15 05:50:47

Debit In a sentece

Learn how to use Debit inside a sentece

  • When I use my debit card to buy groceries, the money is taken directly from my bank account.
  • I made a debit entry in my financial records to show that I paid my monthly bills.
  • The debit column in my bank statement shows all the money I've spent from my account.
  • I used my debit card to pay for my school books online.
  • My parents asked me to withdraw cash from the ATM using my debit card.

Debit Synonyms

Words that can be interchanged for the original word in the same context.

debit entry debit entry

Debit Antonyms

Words that have the opposite context of the original word.

credit credit credit credit

Debit Hypernyms

Words that are more generic than the original word.

account account accounting entry accounting entry calculate calculate entry entry ledger entry ledger entry

Debit Hyponyms

Words that are more specific than the original word.

charge charge

Debit Category

The domain category to which the original word belongs.

accounting accounting