A buyer on returning goods on the ground of poor quality send a note along with the goods stating th...........

General Accounting Principles Accounting cycles

A buyer on returning goods on the ground of poor quality send a note along with the goods stating that no payment would be made in respect of goods returned the return note is called ______.

Debit Note

Credit Note

Return Note

None

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Explanation:

On finding that goods supplied are not as per the terms of the order placed, the defective goods are returned to the supplier of the goods and a note is prepared to debit the supplier; or when an additional sum is recoverable from a customer such a note is prepared to debit the customer with additional dues.

In these two situations the note is called a debit note