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Debit
A financial record that leads to a rise in assets or a reduction in liabilities on the balance sheet of a company.
Credit Accounts
Accounts within financial accounting that are increased with a credit entry, carrying a balance that could be beneficial (revenue, gains) or detrimental (liabilities, expenses).
Journal Entry
A record in accounting that logs the debit and credit parts of a transaction in the financial records of a company.
Journal
A record where all financial transactions are initially recorded, using debits and credits, before being posted to individual accounts.
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