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CR is written on the credit side, but why is it DR for debit?
I have a question about something I've always found confusing in accounting. Why is CR written on the credit side, but DR is used for debit?
Debits and credits are used in double-entry accounting to record financial transactions. The term "debit" comes from the Latin word "debere," which means "to owe," while "credit" comes from the Latin word "credere," which means "to trust or believe." This terminology helps accountants keep track of money that is owed (debits) and money that is received (credits).