Why Debit & Credit is DR. & CR. in Accountancy?? Where is the “R” in Debit?? |
Description: #DYK_ACC (Do You Know Accounts?) For such interesting videos subscribe our yotube channel @bestcommerceclassesbyvsmar7780 @CA Foundation Vsmart History: Luca Pacioli's book popularized the words “credre” means “to entrust” and “debere” means “to owe”-- the origin of the use of the words "debit" and "credit" in accounting, but goes back to the days of single-entry bookkeeping, which had as its chief objective keeping track of amounts owed by customers (debtors) and amounts owed to creditors. Debit in Latin means "he owes" and credit in Latin means "he trusts" Information taken from: https://en.wikipedia.org/wiki/History_of_accounting 
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