When a buyer has been overcharged for goods supplied; the seller issues a _____?

A. debit note
B. proforma invoice
C. letter of credit
D. credit note

Correct Answer:

Option D – credit note

Explanation

A seller receives goods (returned) from the buyer, he prepares and sends a credit note as an intimation to the buyer, showing that the money for the related goods is being returned in form of a credit note