Credit -- an accounting entry on the bottom or right of a, Ask an Expert

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Credit -- an accounting entry on the bottom or right of a balance sheet. Generally an increase inliabilities or capital or a reduction in assets. Opposite of credit is debit. Every credit in abalance sheet has a balancing debit. Credit has other usages, as in "You have to pay cash,your credit is no good." Or "we will credit your account with the refund."

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9577824

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