What is the commonly used abbreviation for a debit?

Question: What is the commonly used abbreviation for a debit?

The commonly used abbreviation for a debit in accounting is "Dr," which stands for "debtor" or "debit record." This term originates from the Latin word "debitum," meaning "what is due," and is used to indicate an increase in assets or expenses or a decrease in liabilities or equity. It is a fundamental part of the double-entry bookkeeping system, ensuring that every financial transaction is recorded in two accounts, maintaining the balance necessary for accurate financial statements.

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