Basics of Accounting
Can anyone please explain why Debit and Credit is written in short form as DR and CR Wherein it’s clearly understandable that Cr means Credit but it should be DE for Debit why DR ??
Blair Olive
Stealth
a year ago
From chatgpt: The terms "credit" and "debit" used in accounting have historical origins. They come from the Latin words "credere" and "debere," which mean "to believe" and "to owe," respectively. Over time, these words were abbreviated to "cr" for credit and "dr" for debit. The abbreviations have been widely adopted in accounting practices and continue to be used to represent these concepts in financial transactions.
