Mastering the Basics: A Beginner’s Guide to Debits and Credits in Accounting oboloo
The first known use of the terms „debit“ and „credit“ occurred in the Venetian Luca Pacioli’s 1494 work, Summa de Arithmetica, Geometria, Proportioni et Proportionalita (A Summary of Arithmetic, Geometry, Proportions and Proportionality). Instead the correspondence depends on the normal balance convention of the particular account. Debits and credits do not, however, correspond in a…
