When a customer returns a purchase or the seller grants the customer credit for a defective item, a debit memo is prepared.

Name: When a customer returns a purchase or the seller grants the customer credit for a defective item, a debit memo is prepared.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

When a customer returns a purchase or the seller grants the customer credit for a defective item, a credit memo is prepared, not a debit memo. A credit memo reduces the amount the customer owes to the seller.

When a Customer Returns a Purchase or the Seller Grants