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 Form 4 Business Studies lessons: Source documents and books of original entry

Definition and types of invoice

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Answer Text:
The invoice:
It is a document written by a seller to a buyer to demand payment for goods and services sold on credit.
There are two types of invoices :
a) A sale invoice(outgoing invoice)-refers to invoice issued by seller and is used to make credit entries of transaction into the sales journal.
b) Purchases invoice(incoming invoice)-refers to original invoice received by the buyer and is used to make credit entries of transaction in the purchases journal


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