Uche returned goods worth N1,500 to Udo. Uche should receive
Question 1 Report
Uche returned goods worth N1,500 to Udo. Uche should receive
Answer Details
Uche returned goods worth N1,500 to Udo. In this situation, Udo owes Uche the value of the goods returned. Therefore, Udo should issue a credit note to Uche to indicate that Udo's account with Uche has been credited with N1,500. A credit note is a document used to record the return of goods or the reduction of an invoice amount. It is an acknowledgement that a customer's account has been credited with a specific amount, usually due to an overpayment, return of goods or discount. So, the answer is a credit note.
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