Indebtedness vs Debit - What's the difference?
indebtedness | debit | Related terms |
State of owing money; being in debt.
The state of owing something or being under obligation to someone.
*2002 , , The Great Nation , Penguin 2003, p. 120-1:
*:Strong on administrative competence, the ministers as a group were united in their indebtedness to Fleury and in a collective mistrust of any putative successor from the court.
The amount owed.
All debts totalled.
In bookkeeping, an entry in the left hand column of an account.
A sum of money taken out of a bank account. Thus called, because in bank's bookkeeping a cash withdrawal diminishes the amount of money held on the account, i.e. bank's debt to the customer.
To make an entry on the debit side of an account.
To record a receivable in the bookkeeping.
of or relating to process of taking money from an account
of or relating to the debit card function of a debit card rather than its often available credit card function {as used by US Postal Service, Walmart, and other payees
Indebtedness is a related term of debit.
As nouns the difference between indebtedness and debit
is that indebtedness is state of owing money; being in debt while debit is flow, rate of flow.indebtedness
English
Noun
(en-noun)debit
English
(wikipedia debit)Noun
(en noun)- A cash sale is recorded as debit on the cash account and as credit on the sales account.
Derived terms
* debit cardSee also
* creditVerb
(en verb)- ''We shall debit your account for the amount of the purchase.
- We shall debit the amount of your purchase to your account.