Question

A Credit Note is the basis for recording a transaction

Q: Answer-A Credit Note is the basis for recording a transaction in which of the following?

Credit note is used to record the transaction related to sales returned whereas a debit note is prepared when the goods are returned and is sent to the supplier with the returned goods.

in which of the following?

A Purchase Journal

B Sales Journal

C Purchase Return Journal

D Sales Return Journal

E Cash book

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A Credit Note is the basis for recording a transaction

Solution