Question 69
Purchase and Sale of GoodsA parcel of shoes valued at N2,000 was invoiced at N200 only. Which of the following would be used by the seller to correct this error?
- A.An invoice for N200
- B.A credit note for N1,800
- C.A debit note for N1,800
- D.A debit note for N2,000
- E.A credit note for N2.200
Show the answer and explanation
Answer: C (A debit note for N1,800)
Explanation
The buyer was undercharged by N2,000 − N200 = N1,800, so the seller sends a debit note for N1,800.