Debit and credit note

Briefly describe the term debit and credit note?

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Debit note is an intimation sent to a person dealing with the business which his account is being debited for the reason indicated therein. This is a note made out with a carbon duplicate. The original one is sent to the party to whom the goods are returned and the duplicate copy is kept back for the office record.

Credit note is a suggestion sent to a person dealing with the business which his account is being credited for the reason indicated therein.

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