Let's demonstrate the use of these T-accounts with two transactions: 1  On June 1, 2016 a company borrows $5,000 from its bank. This causes the company's asset Cash to increase by $5,000 and its liability Notes Payable to also increase by $5,000. 2  On June 2, 2016 the company repaid $2,000 of the bank loan.
https://www.accountingcoach.com/debits-and-credits/explanation/2
Debits and credits occur simultaneously in every financial transaction in double-entry bookkeeping. In the accounting equation—Assets = Liabilities + Equity—if an asset account increases (a debit), then either another asset account must decrease (a credit), or a liability or equity account must increase (a credit).
https://en.wikipedia.org/wiki/Debits_and_credits
Let's demonstrate the use of these T-accounts with two transactions: On June 1, 2016 a company borrows $5,000 from its bank. This causes the company's asset Cash to increase by $5,000 and its liability Notes Payable to also increase by $5,000. To increase the asset Cash the account needs to be debited. To increase the company's liability Notes Payable this account needs to be credited. After entering the debits and credits the T-accounts look like this: On June 2, 2016 the company repaid $2,000 of the bank loan.
https://www.accountingcoach.com/debits-and-credits/explanation/2
Contra-assets accounts by default have a credit balance and thus a debit entry would decrease the balance in a contra-asset. In banking a credit to your account means funds have been added to your account, which would be an increase or debit for accounting purposes to the cash or PayPal account.
https://www.quora.com/How-can-I-tell-if-debit-decreases-or-increases-an-asset
A debit is an expense, or an amount of money paid from an account, that results in the increase of an asset or a decrease in a liability or owner’s equity on the balance sheet. Accounting and invoicing software like Debitoor makes it easier than ever to stay on top of your debits and credits by generating a balance sheet instantly.
https://debitoor.com/dictionary/debit
The problem you are having is mixing banking terminology with accounting terminology. In accounting, assets by default would normally have a debit balance, so a debit entry should always be an increase to an asset account. The only exception would be if this was a contra-asset account such as accumulated depreciation or allowance for doubtful accounts.
https://www.quora.com/How-can-I-tell-if-debit-decreases-or-increases-an-asset
The debit falls on the positive side of a balance sheet account, and on the negative side of a result item. In bookkeeping, a debit is an entry on the left side of a double-entry bookkeeping system that represents the addition of an asset or expense or the reduction to a liability or revenue.
https://debitoor.com/dictionary/debit
A debit or a credit either increases or decreases the total balance in each account, depending on what kind of accounts they are. Each transaction (say, of value £100) is recorded by a debit entry of £100 in one account and a credit entry of £100 in another account.
https://en.wikipedia.org/wiki/Debits_and_credits
Asset accounts: 1  Debits: Always increase the account balance. A big debit in the Cash account (an asset) is a good thing. 2  Credits: Always decrease the account balance.
http://www.dummies.com/business/accounting/the-debit-and-credit-process-in-cost-accounting/
The difference between the total debits and total credits in a single account is the account's balance. If debits exceed credits, the account has a debit balance; if credits exceed debits, the account has a credit balance.
https://en.wikipedia.org/wiki/Debits_and_credits
is a debit to an asset an increase or decrease?
A debit entry should always be an increase to an asset account.