Credit definition covers the definition of a credit and breaks down that definition for key parts, then looks at examples to demonstrate the concepts in the definition of the term credit. The definition of a credit can be confusing because the term is often used in different ways like in a credit card or a bank crediting our account but when using the term for bookkeeping the definition of a credit is: recorded on the right side; an entry that decreases asset and expense accounts, and increases liabilities, revenue, and equity accounts. In other words, the credit is just the amount on the right hand side of the account. Credit are not good or bad any more so then the back and red squares on a checker board but credits are just those amount on the right hand side of the board, a board that we can represent with a T.
