Mention any 3 situations under which a seller and a buyer may send a debit note.

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Solution

The three situations under which a seller and a buyer may send a debit note:
(a) When the buyer has been unchanged for some items in the invoice by mistake, a seller may send a debit note to the buyer.
(b) When the quantity of an item or more than one item dispatched is more than mentioned in the invoice the seller may write a debit note to the buyer.
(c) When the seller has overcharged the buyer by mistake or the seller has to make an allowance to the buyer for damaged or defective goods, a buyer may send the debit note to the seller.

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Similar questions

Q. When goods are returned by buyer to seller, supplier sends a credit note.

Q. Which among the following situation will best explain about issuing debit note to a customer:
A) When the amount payable by buyer to seller increases.
B) Return of goods due to bad quality.
C) When the amount payable by buyer to seller decreases.
D) Goods delivered has charged an extra price.

When a buyer returns goods to the seller, he sends a _______ as intimation to the seller of the amount and quantity being returned and requesting the return of money. Whereas when a Seller receives goods (returned) from the buyer, he prepares and sends a _______ as intimation to the buyer showing that the money for the related goods is being returned in the form of a credit note.

Q. A debit note is prepared by the seller.

In which of the market situations, there are a large number of buyers and sellers selling identical products in the market?

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