Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 49 - No. 2)
What is the function of a credit note?
To request payment from customers.
To authorize a return of goods.
To record cash payments.
To document a sales transaction.
Explanation
A credit note is issued by the seller to the buyer as a notice that a credit will be applied to the buyer's account.
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