NAVYA BOINPALLY Student Expert 15th Sep, 2020

Hi aryan bhandari,

debit and credit we use this 2 terms to describe  incoming and outgoing of money , to better understand this terms  , debits are money going out of account they increase the balance of dividends , expenses , assets  and losses . where as credits are money coming into the account  they increase the balance of gains ,income , revenues , liabilities and shareholder equity

for example

consider a ATM Machine  if you add money to your account then it is  credit and if u take money from your account then it is debit

Hope this information is helpful

ALL THE BEST