Answer Posted / a.r.somesh

Dear Friends,

Kindly note Debit Note stands for Purchase Returns, and
Credit Note stands for Sales Return.

It is to be noted, Debit Note and Credit NOte will be
passed not only for Purchase Returns or Sales Returns, but
also for party adjustments like Discount allowed or
discount received and any other non-cash transactions.

Kindly correct me, if I am wrong.

Thanks.

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