27 December 2008
Credit Notes: Credit notes are issued by you to your customers for any goods returned by them or any after sale discount/rebate/commission. Accounting Entry:
Sales or Sales Return or Rebate and discount or commission account Dr. To Customer A/c
27 December 2008
DR NOTES / CR NOTES SENT IN CASE OF SALES / PURCHASE RETURNS OR ALSO IN CASE OF SOME TYPE OF NON PURCHASE / SALES PAYMENTS TO BE RECD / MADE EX. COMMISSION ETC. ACCOUNTING ENTRIES IN CASE OF DEBIT NOTE SIMILAR TO PURCHASE JV & CR NOTE LIKE SALES JV