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Debit Side for Dummies

noun

What does Debit Side really mean?

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Alright, so think of your "debit side" as the part of your bank account (or any account really) where you keep track of the money going out. In other words, it's like the list of all the things you spend your money on. So, for example, if you buy a new video game or get some fancy clothes, those would be listed on the debit side.

Now, it's important to know that "debit side" can also refer to the left side of an account or a ledger. In accounting, when you record transactions, the "debit side" is where you write down all the expenses and money you spend, while the "credit side" is where you note down all the income and money coming in.

So, to sum it up, the "debit side" is like your spendings list or the left side of an account where you write down all the money you spend. It's kind of like keeping track of all the things you buy and the money you send out. Easy, right?

Revised and Fact checked by Isabella Thomas on 2023-11-15 05:58:35

Debit Side In a sentece

Learn how to use Debit Side inside a sentece

  • When you buy something with your debit card, the amount you spend is recorded on the debit side of your bank account.
  • If you take out money from the ATM, it will show up on the debit side of your bank statement.
  • Paying a bill for utilities will also be reflected on the debit side of your checking account.
  • When you make a loan payment, the money deducted from your account is recorded on the debit side.
  • If you receive a refund for a purchase, it will appear as a credit on the debit side of your account.

Debit Side Hypernyms

Words that are more generic than the original word.

accounting accounting accounting system accounting system method of accounting method of accounting