Question: Why are debit cards called debit cards? Is the accounting term used correctly? What does debit mean? What does credit mean? What would the accounting

Why are debit cards called debit cards?

  • Is the accounting term used correctly? What does debit mean? What does credit mean?
  • What would the accounting entry be to record an ATM withdrawal by you of $200 recorded on the bank's books?

What would the accounting entry be on your books if you use your company debit card to purchase $100 of office supplies?

Does it make sense?

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