Write the most appropriate word or phrase which can substitute each of the following: Document prepared for difference in quantity mentioned in the bill and the quantity actually delivered.
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Solution
Document prepared for difference in quantity mentioned in the bill and the quantity actually delivered is known debit/credit note. A source document on the basis of which
the purchases returns book is prepared is known as debit note. Debit
note is often defined as a note which is created by a buyer at the time
of returning goods received on credit. It often serves as a reminder of
current debt obligations.
A source document on the basis of which
the sales returns book is written is known as credit note. Credit note
is also known as a credit memo. It is issued by a seller to a buyer. It
serves as an evidence of the reduction in sales.