Debit and credit note.
This query is : Resolved
18 April 2012
kindly clear the concept of debit note and credit note.....i am quite confused.....
25 April 2012
When the purchaser returns the goods to the seller the Purchaser sends a Debit Note to the seller (ie. the purchaser debits the seller in his books ie. Purchasers Books) and the Seller sends a Credit Note to the purchaser (ie. the seller credits the Purchaser in his Books ie. Sellers Books).
Following are the JVs to be passed:-
Sales Return inward A/c Dr.
To Debtor A/c
(Being goods returned by the customer)
Creditor A/c Dr.
To Goods Return A/c
(Being goods sent back to the seller)
Following are the JVs to be passed:-
Sales Return inward A/c Dr.
To Debtor A/c
(Being goods returned by the customer)
Creditor A/c Dr.
To Goods Return A/c
(Being goods sent back to the seller)
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