credit memorandum

Dictionary of Accounting Terms for: credit memorandum
credit memorandum
  1. form or document used by a seller to notify the buyer of merchandise that the buyer’s accounts payable is being credited (decreased) due to errors or other factors requiring adjustments.
  2. form given by a bank to a depositor to indicate that the depositor’s balance is being increased due to some event other than a deposit, such as the collection by the bank of the depositor’s note receivable.
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