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What is the difference between debit note and credit note?

Asked by Topperlearning User 11th July 2016, 4:49 PM
Answered by Expert
Answer:

 

Debit Note

Credit Note

It is prepared by the purchaser

It is prepared by the supplier

It is the basis of recording entry in purchases return book

It is the basis of recording entry in sales return book

It is an intimation for debit made in the account of supplier

It is an intimation of credit made in the account of the customer

 

Answered by Expert 11th July 2016, 6:49 PM
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