Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 28 - No. 26)
What is a credit note used for?
To request payment for goods.
To record a sales transaction.
To show that a customer owes the business more money.
To reduce the amount a customer owes the business.
Explanation
A credit note reduces the amount a customer owes, generally due to a return or a price reduction.
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