Credits and debits operate opposite one another in double-entry accounting. Every credit recorded requires an equal, offsetting debit somewhere else. ... Expenses. Crediting an expense account ...

Deferred debit is best described as a prepaid expense. It is a service or good that someone pays for but doesn't necessarily use right away or hasn't expired yet. On the accounting end, a ...

Remember, every credit must be balanced by an equal debit -- in this case a credit to cash and a debit to salaries expense. The same logic holds true for revenue.

MasterCard Inc.'s credit card transactions are not being cannibalized by the growth in debit card use, according to Chris McWilton, its president of U.S. markets. "There is a myth that debit is ...