One of your best friends has just started an accounting course at university. After his first lesson on double-entry accounting, your friend approaches you and says: I dont understand why the banks use the term credit when you deposit cash in your bank account because cash is an asset, and increase in cash should be debit, not credit. I think the banks are misusing the word credit. It doesnt comply with double-entry accounting.

Do you agree with your friend? Explain. (Word limit: at least 50 words)