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The Collaborative International Dictionary of English v.0.48:

Debit \Deb"it\, v. t. [imp. & p. p. Debited; p. pr. & vb. n. Debiting.] 1. To charge with debt; -- the opposite of, and correlative to, credit; as, to debit a purchaser for the goods sold. [1913 Webster] 2. (Bookkeeping) To enter on the debtor (Dr.) side of an account; as, to debit the amount of goods sold. [1913 Webster]