![Debit](https://img-cdn.financeunlocked.com/headers-images/euromoney/1.jpg?ik-sdk-version=javascript-1.0.3)
Glossary
Technical Foundations
Debit
A debit, in the context of double-entry bookkeeping, is an accounting entry to reflect increase in assets or expenses, or decrease in liabilities or income. Debits are equal and opposite to credits in a journal entry. For example, when a motor vehicle is purchased by a company for cash, the debit is to the asset account of the motor vehicle and credit is to the cash account.