Question on: WAEC Accounting - 2015
When the invoice of a customer is overcast, the supplier will send to him a
A
Cheque
B
Payment voucher
C
Debit note
D
Credit note
Ask EduPadi AI for a detailed answer
Correct Option: D
Overcasting is when the estimated value turns out to be above the realized value.
A credit note is a letter sent by the supplier to the customer notifying the customer that he or she has been credited a certain amount due to an error in the original invoice or other reasons. A credit note is issued when a customer pays an amount above the real amount due to an error in the sales invoice that overstated the said amount to be paid.
Add your answer
Please share this, thanks!
No responses