Question

what is debit note? write any four feature of it?

Answer 1

A debit note or debit memorandum (memo) is a commercial document issued by a buyer to a seller as a means of formally requesting a credit note. Debit note acts as the Source document to the Purchase returns journal. In other words it is an evidence for the occurrence of a reduction in expenses. its features are as follows. 1. It is sent to inform about the debit made in the account of the seller along with the reasons mentioned in it.

2. The purchase returns book is updated on its basis. (In case of return of goods)

3. It is often used to return goods on credit.

4. It is generally prepared like a regular invoice and shows a positive amount.

Answer 2

A debit note or debit memorandum (memo) is a commercial document issued by a buyer to a seller as a means of formally requesting a credit note.Debit note acts as the Source document to the Purchase returns journal. In other words it is an evidence for the occurrence of a reduction in expenses.
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