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Explain the exact meaning of debit note and credit note in
the case of hospital business mainly in case of billing?
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Answer / amit kumar tiwari
Debit Note is a letter which the buyer issues to the
supplier in the condition of return of goods.
A credit note or credit memorandum (memo) is a commercial
document issued by a seller to a buyer. The seller usually
issues a Credit Memo for the same or lower amount than the
invoice, and then repays the money to the buyer or sets it
off against a balance due from other transactions.
It can also be a document from a bank to a depositor to
indicate the depositor's balance is being increased because
of an event other than a deposit, such as the collection by
the bank of the depositor's note receivable.
Ram lal & Co. Purchase 10 Books@100=1000 from Delhi Book
store. 2 books are printing not good so ram lal return 2
Books to Delhi Book store ram lal issue debit note to Delhi
Book Store and Delhi Book store will give credit against
supply
| Is This Answer Correct ? | 6 Yes | 1 No |
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State which of the following are Cash transactions, and which are credit transactions: Questions Answers 1. Anil commenced business with Rs.10,000 2. Bought goods for cash Rs. 2000 3. Bought goods from Balaji on account Rs. 4000 4. Paid Balaji on account Rs. 500 5. Commission received Rs. 50 6. Commission due to Raj Rs. 100 7. Took Loan from Bank Rs. 20,000 8. Interest on loan due to the bank Rs. 200 9. Paid salaries Rs. 200 10. Sold goods for Rs. 1000 11. Sold goods to Eshwar on account Rs. 2000 12. Received from Eshwar on account Rs. 100
Audit 
