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Explain the meaning of this full sentence: credit notes at invoiced value of ` 3,000 had been issued to customers in respect of goods returned during that period
Answers (2)
Vijay K
Can you upload the picture of the question fully.
When you sell goods - you issue an invoice and money is receivable. When goods are returned a credit note issued in favor the original buyers and that credit notes knocks of the receivable in the account of the Debtors. Credit notes are issues for sales returns, discounts given to our debtors etc
