Debits and Credits

[VenalWinfrey]

I know it's not exactly arts or literature, but I didn't know where to post this question. Can anyone explain to me why accountants use DR to denote debit? I can understand CR (sort of) but DR does not seem to make sense. Is it a latin derivation? Would be very grateful if someone could give me a pointer on this! Thanks a lot.

[Quizmonster]

As I understand it, 'dr' is an abbreviation of 'debtor' and 'cr' the same for 'creditor'.

[kags]

Dr is short for the latin word debere which means to owe, and credit is short fo the latin word credere which means (among other things) to trust. It is just a coincidence that "credit" starts "cr" as well.

[kags]

ooh, now I'm nervous, and probably wrong if I have given a different answer to quizzie!

[Quizmonster]

Dear Kags, your account of the Latin source-words is certainly correct...so no problem! I was pretty sure I knew the meaning, but did check both abbreviations in Chambers Dictionary before posting my response. Basically, we're both right in slightly different ways...only you used verb-forms and I used noun-forms. There's no disagreement between us at all, really. Cheers

[kags]

Good - I just assumed I would be wrong, and after years in the accountancy profesion too!