Debit and credit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 December 2012
Dear all,
Please give me exact definition to WHAT IS DEBIT AND CREDIT ?
Please give me exact definition to WHAT IS DEBIT AND CREDIT ?
15 December 2012
Hi
I found 2 very good resources here, hope it helps. Pl let us know if you require more clarity:
http://www.wikihow.com/Understand-Debits-and-Credits
http://en.wikipedia.org/wiki/Debits_and_credits
Thanks//Vaibhav
Revert for more clarity.
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I found 2 very good resources here, hope it helps. Pl let us know if you require more clarity:
http://www.wikihow.com/Understand-Debits-and-Credits
http://en.wikipedia.org/wiki/Debits_and_credits
Thanks//Vaibhav
Revert for more clarity.
Click thank button to convey your appreciation.
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15 December 2012
Of course I am explaining in vernacular language debit means "Karch" credit means "jama"
for example if you lend Rs 1000 to Mr X
In your books you will effect Karch of Mr x account. The same transaction is reflected in books of X is your account will be given Jama
for example if you lend Rs 1000 to Mr X
In your books you will effect Karch of Mr x account. The same transaction is reflected in books of X is your account will be given Jama
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