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Credit note to customer

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Querist : Anonymous

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Querist : Anonymous (Querist)
14 March 2011

What should be the entry for following cases-
1.Credit note issued to customer
2.Provision for credit note

Please reply.

14 March 2011 Suppose the credit note is to be issued for discount to customer :

1> Discount Allowed A/c Dr.
To Customer's A/c Cr.

On making provision :

2> Discount allowed A/c Dr.
To Provision for Discount Allowed A/c Cr.



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