beykenme

When his work was translated, the Latin words debere and credere became the English debit and credit. Assets were owed to the owner and the owners’ equity was entrusted to the company. The first known use of the terms « debit » and « credit » occurred in the Venetian Luca Pacioli’s 1494 work, Summa de Arithmetica, Geometria, Proportioni […]