The Collaborative International Dictionary of English v.0.48:

Debit \Deb"it\, v. t. [imp. & p. p. Debited; p. pr. & vb. n.
   Debiting.]
   1. To charge with debt; -- the opposite of, and correlative
      to, credit; as, to debit a purchaser for the goods sold.
      [1913 Webster]

   2. (Bookkeeping) To enter on the debtor (Dr.) side of an
      account; as, to debit the amount of goods sold.
      [1913 Webster]