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CR is written on the credit side, but why is it DR for debit?
I see. So, is there a specific reason why CR is used for credit instead of using the term "CR" for debit instead?
The letters "CR" actually stand for "credit" and are used to represent the right side of a T-account. Similarly, "DR" stands for "debit" and represents the left side of a T-account. This system was developed in the early days of accounting, based on a bookkeeping strategy that uses two columns (debit and credit) to record transactions, which helps to ensure accurate recording of financial activity.