Debit

A bookkeeping entry on the left side of an account, recordingThe recording in a registrar's office of an executed legal document. These include deeds, mortgages, the creation of or addition to an assetThe entire property of a person, association, corporation, or estate applicable or subject to the payment of debts. or an expense, or the reduction or elimination of a liabilityThis coverage will pay for BODILY INJURY and/or PROPERTY DAMAGE to the OTHER party for which you become or item of equityThe value of a property beyond any liens against it. Also referred to as owner's interest. or revenue.

Debit

A bookkeeping entry that decreases the balanceThe amount in an account or the remaining amount due on a loan. of a memberAn enrollee, beneficiary, or insured. A member includes people who enroll or subscribe to a health insurance's account. Checks posted to an account, and entries to an account for the paymentPeriodic (usually monthly) installments paid to a lender to be applied toward repaying your loan. Payments of service charges are examples of debit entries.

Debit

A debit may be an account entry representing money you owe a lenderThe entity that provides loan funds to the borrower. Depending on the type of loan, the lender may be or money that has been taken from your depositThe amount of money you put down on a house to hold it. account.

Debit

An entry in an account that shows an amount paidThis is the amount of tax posted as paid for the year in question, either in installment payments or out or owed. The opposite of a creditThe ability of a person to borrow money, or buy good by paying over time. Credit is extended based on to an account.