What is the nature of (A) a credit memo issued by the seller of merchandise, (B)...

What is the nature of (A) a credit memo issued by the seller of merchandise, (B) a debit memo issued by the buyer of merchandise?

Expert Solution

Solution:

A). Credit update is issued by the vendor shows the sum for which the purchaser's record is to be credited (Accounts Receivable) and the explanation behind the business return or remittance.

B). A charge update is issued by the purchaser demonstrates the sum for which the dealer's record is to be charged (Accounts Payable) and the explanation behind the buys return or remittance.

ekkarill92 answered 2 years ago

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