a debit is an accounting entry that results in either an increase in assets or a decrease in liabilities on a company s balance sheet in fundamental accounting debits are balanced by credits which operate in the exact opposite direction 
for instance if a firm takes out a loan to purchase equipment it would simultaneously debit fixed assets and credit a liabilities account depending on the nature of the loan the abbreviation for debit is sometimes dr which is short for debtor investopedia madelyn goodnight