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English definition of “debit”

debit

verb [T]
 
 
/ˈdebɪt/
BANKING to take or pay money out of a bank account, etc.: Your account will be debited as soon as your order has been shipped.debit an account/card with sth By agreeing to these conditions, you give permission for us to debit your credit card with the amount stated above.debit sth from sb’s account She later discovered that the bank had accidentally debited $517.23 from her account twice.
ACCOUNTING to record an amount in a company's financial accounts which represents money that has been used to pay an expense or buy an asset. In double-entry bookkeeping this is done on the left-hand side (= the debit side) of the accounts.
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(Definition of debit verb from the Cambridge Business English Dictionary © Cambridge University Press)
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