A few theories exist on the origin of the abbreviations for debit (DR) and credit (CR) in accounting. Both have Latin roots and can appear on a company's balance sheet. Learn about the difference between debits and credits and their rules in accounting with examples and how they balance each other in double-entry bookkeeping Learn the basic concepts and rules of debit and credit in accounting, with examples and comparison chart. Debit indicates the destination of benefit, while credit indicates the source of benefit in a transaction. Let's understand Debit vs Credit in Accounting, their meaning, key differences in simple and easy steps using practical illustrations.
