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credit memorandum

noun
1.
a memorandum issued to an account allowing a credit or reducing a debit, especially one posted to a customer's account.
Also called credit memo, credit slip.
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Based on the Random House Dictionary, © Random House, Inc. 2014.
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Contemporary definitions for credit memo
noun

a document used to correct an overcharge, pay a rebate, or credit the value of goods returned

Examples

A credit memo would be required, for example, when a customer who bought merchandise on account returned some merchandise, or overpaid on their account.

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