What is difference between credit and debit I am unable to understand kindly explain me in a sheet of paper in easy words so I can understand I need handwritten explanation in a sheet of paper only so I can understand easily plz help me out .I need handwritten explanation only as I am a weak student so kindly explain me meaning of debit and credit I am unable to understand at all I need handwritten explanation
Dear student
Main difference between the two term is their side.if you prepare ledger account, then the left side of the ledger account is known as debit side or right hand side of the ledger account is known as credit side.
For example
Dr. Asset A/c Cr.
If entry is posted to left side of the account, it is said that account is debited.and when entry is posted to right side of the account, then it is said that account is credited.
2) Dr. Stands for debit, while Cr. Stands for credit.
I hope it's clear your doubt.
Regards
Main difference between the two term is their side.if you prepare ledger account, then the left side of the ledger account is known as debit side or right hand side of the ledger account is known as credit side.
For example
Dr. Asset A/c Cr.
| Date | particular | j.f | amount | date | particular | j.f | amount |
2) Dr. Stands for debit, while Cr. Stands for credit.
I hope it's clear your doubt.
Regards