![]() ![]() Ram has returned this good because this is not good. note receivedĮxample : Suppose, Sham has received goods of Rs. When our customer will receive the credit note, he will pass following journal entry. So, we will credit the debtor or customer account. With same amount, our debtor asset will be decreased. We will debit the sales returned account. When we receive the goods, it means goods comes into the business. ![]() Now, we teach you the journal entry of credit note. With this, he will not pay of the amount of his returned goods. When he will return the goods to us, it means he will debit our account in his books. Our customer can also give the note with his returned goods but it will be the debit note. By giving this paper or enote to customer, we tries to tell that we are crediting his account with his returned goods amount. Credit note is that note which is given to the customer when we get his returned goods. Before passing the journal entries of credit note, you should know the meaning of credit note. ![]()
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