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Q: Describe the importance of a credit memorandum and it's impact on businesses that have merchandise.
A: The credit memo is important because it issued because the buyer to returned goods to the seller, or there is a pricing dispute, or a marketing allowance, [ or other reasons under which the buyer will not pay the seller the full amount of the invoice. The seller records the credit memo as a reduction of its accounts receivable balance, while the buyer records it as a reduction in its accounts
payable balance. ]
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Original conversation
User: Describe the importance of a credit memorandum and it's impact on businesses that have merchandise.

Weegy: The credit memo is important because it issued because the buyer to returned goods to the seller, or there is a pricing dispute, or a marketing allowance, [ or other reasons under which the buyer will not pay the seller the full amount of the invoice. The seller records the credit memo as a reduction of its accounts receivable balance, while the buyer records it as a reduction in its accounts payable balance. ]
mpaul123|Points 290|

User: Recall a situation where you purchased an item and returned it to the seller. Share it with the class and summarize the process from the seller's perspective.

Weegy: Every transaction has a cost. For a buyer and seller to consummate a transaction, both parties must expend the effort, energy and expense. [ From the buyer’s perspective, the transaction cost must be proportional to the value of the goods or services they are selling. From the seller’s perspective, the total costs of attracting the buyers and consummating the transaction mus - See more at: ]
Expert answered|Onlineexpert|Points 73|

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Asked 9/14/2013 10:51:36 PM
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