Business Accounting and Bookkeeping
Is a mortgage repayment for a business a credit or a debit entry?
What is the journal entry to record accrued interest on a mortgage?
Asked in Mortgages
What is the journal entry to record mortgage revenue?
Asked in Relationships
Meaning of credit and debit?
Credit and debit are terms used in accounting and bookkeeping. Debit is typically listed first on the left side and credit will be on the right side. The words have opposite meanings. Debit is receiving and credit is giving and in business accounts debit is what comes in and credit is what goes out.