Debit. credit note

This query is : Resolved 

23 January 2014 please explain in detail about debit note and credit note. ??!

23 January 2014 Hi

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).


Thx



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