Outline four differences between a debit note and a credit note as a business documents.
Answer:
-Debit note is used to correct undercharges while credit note is used to correct overcharges
-Debit note is the amount on an invoice issued whereas credit note reduces the amount
-The supplier debits the customers account for a debit note while for a credit note the supplier credits the customers account
-Debit note is issued when a customer fails to return while a credit note is issued when customer returns