The Latin debitum means debt. On the other hand whateve.
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Debit also refers to the left side of a general ledger account while Credit refers to the right side.
. Now when it appears on your credit card statement it means that you owe all that amount to the lending bank Credit Card on account of various transactions made by you. CR stands for credit and DR means debit. The opposite of it is Cr which means Credit.
However when it comes CR and DR on a. Is typically used in accounting to signify a debit which is different then what might show on your bank account. Debit comes from debere which means to owe.
Another theory is that DR stands for debit record and CR stands for credit record Finally some believe the DR notation is short for debtor and CR is short for creditor. Credit comes from the Latin word credere which means to believe. Debit is abbreviated Dr while credit is abbreviated Cr.
On your bank statement a debit would mean an outflow which is opposite in accounting so it can be confusing. DR is an abbreviation for Debit. If you issue a.
Dr is an accounting term which means Debit. If you ever have taken an accounting class you probably realize how confusing these two terms can be when you are first learning about them. If you deposit money into your account bank will debit the money into your account and show the money as DR in double entry accounting system.
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