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What is debit note...? |
| Answer» Debit Note : This is referred to a note that is issued by the business to the other concerned parties. It represents the details and reasons for debiting the concerned party\'s account.Example: Goods worth Rs 2,000 returned by the business to Mr. Ramesh (a supplier).In this case, Ramesh\'s Account will be debited with Rs 2,000 as the goods purchased from him were returned to him. A issue of Debit Note in this case explains that Ramesh A/c has been debited with Rs 2,000 with explanation, i.e. due to the goods returned by the business. | |