Asset accounts, expense accounts, and the owner's drawing account are expected to have debit balances. These debit balances will be increased when additional debit amounts are entered.
To illustrate the above, let's assume that a company has cash of $500. The company's general ledger asset account Cash should indicate a debit balance of $500. If the company receives an additional $200, a debit entry will be made and will result in the Cash account having a debit balance of $700.
Sometimes the word charge is used in place of debit. For example, if a company does advertising of $900, the accountant will charge Advertising Expense for $900.
The accepted abbreviation for debit is dr.
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