Question

Long Answer Questions.
What do you mean by the Cash Memo and Credit Memo?

Answer 1

• A document issued by a trader for cash purchases is known as cash memo. Cash memo is often referred as a paid bill for cash sales. It is a document stating cash received for the goods sold. Documents issued for purchased goods for cash is known as cash memo.
• A document issued by a trader for credit purchases is known as credit memo. Credit memo is often referred as a paid bill for credit sales. It is a document stating credit received for the goods sold. Documents issued for purchased goods for credit is known as credit memo.