Debit
Debit is an entry that increases assets or expenses and decreases liabilities or equity in double-entry accounting. Every debit has a corresponding credit. For example, when you buy equipment with cash, the equipment account is debited, and the cash account is credited.
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Debentures
Debenture is a type of long-term debt instrument issued by companies to raise capital, typically backed by the issuer’s creditworthiness…
Draft
Draft is a written order from one party (drawer) to another (drawee) to pay a specific sum to a third…
Discount on Sales or Purchases
A reduction in the price of goods or services, either as a sales incentive (sales discount) or a reward for…
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