please let me know, what should be journal entry for debit note issued for change in terms of agreement or for supplying inferior quality goods. We are not returning the goods so purchase return will not be credited.
What will be entry? creditor a/c Dr To -------------?
21 November 2016
If u r exchanging the same quantity and quality goods then no need to pass any entry in books of accounts. But if the new goods are changing their quality then u must show a purchase return and again show the purchase of those goods.
Note:- quality and quantity means product specification of products(if u r maintaining it separately) and number of stock items respectively.
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