Merriam-Webster's Collegiate® Dictionary, 11th Edition
DEBIT
I. 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 record of an indebtedness, the sum of the items entered as debits, a charge against a bank deposit account, drawback , shortcoming