Answer / gunjan thakur

. A transaction that reduces Amounts Receivable from a
customer is a credit memo. For eg. The customer could return
damaged goods. A debit memo is a transaction that reduces
Amounts Payable to a vendor because, you send damaged goods
back to your vendor.

Answer / kanchan kumar

debit note means when goods return by sr. debtors due to
some reason e.g. damage goods etc. and credit note means
when goods return to supplier.

Answer / p.sheshu kumar

debit note means sales retursn

credit note means purchase returns

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