Question

When sold goods in returned by the customer, we prepare

(a) Debit Note
(b) Credit Note
(c) Invoice
(d) Voucher
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Answer 1

Explanation:

A credit note is a commercial document issued by a seller to a buyer. Credit note acts as a source document for the sales return journal. In other words credit note is evidence of reduction in sales. It is a receipt given to the customer who has returned goods, which can be offset against future purchase