American Dictionary of the English Language

DEB'IT, noun [Latin debitum, from debeo, to owe.] Debt. It is usually written debt. But it is used in mercantile language, as the debit side of an account.

DEB'IT, verb transitive

1. To charge with debt; as, to debit a purchaser the amount of goods sold.

2. To enter an account on the debtor side of a book; as, to debit the sum or amount of goods sold.