Tenax Therapeutics' (TENX) CEO John Kelley on Q3 2015 Results-Earnings Call Transcript.
Debit the cost of the asset and credit the loan account with the capitalized interest. In the example, debit the asset cost and credit the loan account with $50,000. The asset cost available for depreciation at the end of Year One is therefore $1,050,000. Debit the interest expense account and credit the loan account with any interest paid in excess of the interest capitalized. For example, if the total interest paid in the first year was $75,000, debit the interest expense account and credit the loan account with $75,000 minus $50,000, or $25,000.
debit card noun [C]. B2 a âsmall âplastic âcard that can be used as a âmethod of âpayment, the âmoney being taken from âyour âbank âaccount âautomatically: I âpaid with my âdebit âcard. (Definition of debit card from the Cambridge Advanced Learnerâs Dictionary & Thesaurus Â© Cambridge University Press). See all translations.