INTERVIEW QUESTIONS ACCOUNTING PROCESS SUBSIDIARY BOOKS DETAILS

Question: A note sent by buyer on return of goods is:
a) Debit Note b) Credit Note
c) Income Note d) Ledger Note

Answer: (a) Debit Note
Description: Buyer of goods is customer from the point of view of business. In his books our account balance would show a credit balance. When he returns the goods to us, he debits our account and to show this fact he sends a debit note to us indicating the above fact.

(a) Debit Note
Description: Buyer of goods is customer from the point of view of business. In his books our account balance would show a credit balance. When he returns the goods to us, he debits our account and to show this fact he sends a debit note to us indicating the above fact. Source: CoolInterview.com

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