Which Is the Best Method to Prepare

question 56

Multiple Choice

Which is the best method to prepare ?

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Definitions:

Debit Memorandum

A document or entry recorded to reflect an adjustment or correction, usually increasing the amount a buyer owes to a seller.

Credit Memorandum

A document issued by a seller to a buyer, reducing the amount that the buyer owes under the terms of an earlier invoice.

Petty Cash

A small amount of cash kept on hand used for paying minor or incidental expenses in a business setting.

Postage Expense

The cost incurred by a business for sending mail.