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According to the libel-proof plaintiff doctrine,
Debit
An accounting entry that results in either an increase in assets or a decrease in liabilities on a company's balance sheet.
Double-Entry Accounting
A system of bookkeeping where every entry to an account requires a corresponding and opposite entry to a different account.
Debits
Accounting entries that represent an increase in assets or expenses or a decrease in liabilities, equity, or revenue.
Credits
Recognition or acknowledgment for something received or accomplished, often used in finance to denote money received or a decrease in liabilities.
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