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why debit notes and credit notes are passed?
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Answer Posted / prakash
When we sale the goods. we increase our debtors.vis-a-vis
when we purchase goods we increase our creditors.
at same time when goods return from debtors due to any
reason we must credited there a/c. that's why raised
credit note.
and when we return the goods to creditors due to any reason
we must debited there a/c.that's why issued debit note.
reason's are many if there is rate differance we are adjust
this differance also in debit & credit note.
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