I. ˈde-bət transitive verb
Date: 1682
: to enter upon the debit side of an account : charge with a debit
II. noun
Etymology: Latin debitum debt
Date: 1746
1.
a. : a record of an indebtedness ; specifically : an entry on the left-hand side of an account constituting an addition to an expense or asset account or a deduction from a revenue, net worth, or liability account
b. : the sum of the items entered as debits
2. : a charge against a bank deposit account
3. : drawback , shortcoming