noun
an entry recording an amount owed, listed on the left-hand side or column of an account.
As such, a deficit may be a result of the claims foreigners have on the local economy (recorded as a debit in the current account).
verb
(of a bank or other financial organization) remove (an amount of money) from a customer's account, typically as payment for services or goods.
$10,000 was debited from their account
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