Discuss Debit note and Credit note

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Debit note:- Debit note is a statement sent by the purchase to the seller giving particulars of the goods returned. It indicates the supplier that the account has been debited with the amount stated therein. Debit notes are prepared in duplicate. Original copy is sent to the supplier to whom goods are returned and the duplicate copy will be retained by the trader for further reference. The following is the specimen of a debit note sent by SS Brothers of vijayawada to M/s. Rahul Book Depot. Hyderabad.


Credit note:- When the seller receives back goods from the purchaser along with a Debit note, the seller has to acknowledge the same by sending a credit note, confirming the acceptance of the debit note. In other words this is a statement sent by the seller to the purchaser after the receipt of the goods returned by purchaser. The following is the specimen of a credit note sent by Rahul Book Depot., Hyderabad to SS Brothers of vijayawada.


  

M/s. SS Brothers ,          Hyderabad-3

                                                  25-4-1999.

Book 📚 sellers and Distributors,

Vijayawada.

Credit by M/s Rahul Book Depot, Hyderabad.

By Books returned

5 copies of Biology Science

                                  @Rs,40 each200

                      Sd/-Rahul Book Depot.,

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