Answer / muhammad ismail

Debit note means when we purchase some thing ,so we debit that party,and when we sell some thing so we credit that party.

Answer / raj

CREDIT NOTE IS A SALES RETURNS"

DEBIT NOTE IS A PURCHASE RETURNS"

Answer / s.v.bhaskar

SIMPLE ANSWER:

DEBIT NOTE IS "PURCHASE RETURNS"

EXP:AtoZ GEN STR. Purchased some material from XYZ STRS through transport then material received after verification of the weightless and packing the goods is some small damages.Hence the goods returned to XYZ STRS., and raised the DEBIT note(some above reasons).

i.e., ENTRY IS 1.AtoZ GEN.STR(PURCHASE A/C.) DR.
To XYZ STRS CR
(BEING MATERIAL PURCHASE MADE)

2.XYZ STRS (PUR. RETURNS A/C.) DR
To AtoZ str(PURCHASE A/C.) CR.
(BEING MATERIAL RETURNED)


CREDIT NOTE IS SALES RETURNS:

EXP:AtoZ GEN STR. material sale to S.V.BHASKAR through transport then material received after verification of the Mmaterial weightless and packing the goods is some small damages.Hence the goods returned to the AtoZ STRS., and seller(AtoZ) give the discount offer and decreased the invoice amount and raised the CREDIT note(some above reasons).
that is called CREDIT NOTE.

i.e., ENTRY IS 1.S.V.BHASKAR A/C. DR.
To AtoZ GEN STRS CR
(BEING SALE OF MATERIAL )

2.AtoZ GEN STRS A/C.) DR
To S.V.BHASKAR (SALES RETURNS) CR.
(BEING CREDIT NOTE RAISED FOR DISCOUNT AMOUNT OR MATERIAL AMOUNT DECREASED)

Answer / roshan

credit note means sales return means this note issued by
the customer to the seller
debit note means pirchase return means this note issued by
seller to the supplyer

Answer / sriramamurthy

credit means the deposited money taken from the card
so that is the credit card.
In contrast with credit card this is exactly opposite.
So clearly ur bank pay money according to usage
after that u should pay the money to that Bank according
to the conditions.
Are u satisfied with that answer.

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