⟩ Tell me what is the adjustment entries made while preparing the final accounts from the Trial Balance?
☛ Debit note is an intimation sent to a person dealing with the business that his account is being debited for the purpose indicated therein. It is a note made out with a carbon duplicate. The original one is sent to the party to whom the goods are returned and the duplicate copy is kept for office record.
☛ Credit note is an intimation sent to a person dealing with the business that his account is being credited for the purpose indicated therein.