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credit note

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(Querist)
30 November 2010 i received cr note from a company ag purchase.
wht should be the entry of credit note in my books.

if party a/c is debited
wht should be credited
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CA. A.K. SAH

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CA. A.K. SAH (Expert)
30 November 2010 For credit notes receive ( for any rectification of discount)means the party is crediting your account accordingly you have to debit the party account
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Sandeep Kumar

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Sandeep Kumar (Querist)
30 November 2010 dr party a/c
cr what?
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