Solve this:
1)
Debit note: - It is a note which tells us the debit has been made on the party who is specified. It is generally made at the time of purchases return, if thee supplier has undervalued the products etc.,
Credit note: - It is a note which tells that credit has been granted to the mentioned party. It is prepared at the time of sales return or if the supplier is giving more discount etc,.
2)
Contra entry -
If in the cash book if one balance decreases and other balance increases for the same transaction in the equall amount is called as contra entry. For ex deposited cash in bank , in that the cash decreases and the bank account increases.
Compound entry- It can be defined as if in one journal if there are many debit aspects paired with one credit or many credit aspects paired with one debit then it is known as compound entry.
3)
Generally accepted accounting principles
4)
Debit note: - It is a note which tells us the debit has been made on the party who is specified. It is generally made at the time of purchases return, if thee supplier has undervalued the products etc.,
Credit note: - It is a note which tells that credit has been granted to the mentioned party. It is prepared at the time of sales return or if the supplier is giving more discount etc,.
2)
Contra entry -
If in the cash book if one balance decreases and other balance increases for the same transaction in the equall amount is called as contra entry. For ex deposited cash in bank , in that the cash decreases and the bank account increases.
Compound entry- It can be defined as if in one journal if there are many debit aspects paired with one credit or many credit aspects paired with one debit then it is known as compound entry.
3)
Generally accepted accounting principles
4)
