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credit (as in debit and credit)

(Dictionary)

Author:
Harold Averkamp, CPA, MBA

Definition

To enter an amount on the right side of an account. Normal entries to revenue accounts are credits. Liabilities normally have credit balances.

To learn more about debits and credits, see our Debits and Credits Outline.

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  • Debits and Credits
  • Adjusting Entries
  • Financial Statements
  • Balance Sheet
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  • Accounts Receivable and Bad Debts Expense
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About the Author

Harold Averkamp

For the past 52 years, Harold Averkamp (CPA, MBA) has
worked as an accounting supervisor, manager, consultant, university instructor, and innovator in teaching accounting online. He is the sole author of all the materials on AccountingCoach.com.

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