A credit memorandum is prepared when
A) an employee does a good job.
B) goods are sold on credit.
C) goods that were sold on credit are returned.
D) customers refuse to pay their accounts.

Question

Quizplus · Accepted Answer

A credit memorandum is prepared when goods that were originally sold on credit are returned. It is a document that shows the amount to be deducted from the customer's account due to the returned goods.

A Credit Memorandum Is Prepared When