(a). What is debit note?
(b). Use the information to answer questions below
Lily & Co Ltd supplied some goods to Timex Enterprise after the order had been paid for. The buyer discovered after receiving the goods that quantities of some goods did not tally with the amount paid. He also found out that they were not accompained by any document.
i. which document should have accompanied the goods?
ii. Outline four items the document named in (b)(i) would contain
(c). Use the information to answer questions beow
Lily & Co Ltd supplied some goods to Timex Enterprise after the order had been paid for. The buyer discovered after receiving the goods that quantities of some goods did not tally with the amount paid. He also found out that they were not accompained by any document.
i. Identify the document Timex Enterprise would receive from Lily & Co Ltd that the goods supplied were not complete
ii. Outline four items the document identified in 3(b)(i) would contain
(a). A debit note is a document used by a vendor to inform the buyer of current debt obligations, or a document created by a buyer when returning goods received on credit. The debit note can provide information regarding an upcoming invoice or serve as a reminder for funds currenlty due.
(b). i. Delivery note
ii. - Data identifying the seller and buyer
- Reference to the invoice
- Number and description of the products
- Date of issue of the document and date of delivery of the goods
- Name, signature and stamp of the purchaser, accepting delivery of the goods in good condition
(c)i. Purchase order
ii. - Delivery date: It shows when the goods will be delivered i.e the time and date when the goods will be delivered.
- Delivery location: It shows how where the goods will be delivered by the seller.
- Products or services being purchased: It shows the quantity of goods purcahsed by the buyer
- Price per unit: It shows the price of quantity of each goods purchased by the buyer.
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