DEBIT MEMORANDUM Definition

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DEBIT MEMORANDUM can be either a) a form or document given by the bank to a depositor to notify that the depositors balance is being decreased due to some event other than the payment of depositor originated check, e.g. bank service charges; or b) a form of document used by a seller to notify a buyer that the seller is debiting (increasing) the amount of the buyers accounts payable due to errors or other factors requiring adjustments.

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ARTICLES OF INCORPORATION is the primary legal document of a corporation; they serve as a corporations constitution. The articles are filed with the state government to begin corporate existence. The articles contain basic information on the corporation as required by state law.

RECURRING ENTRY is a scheduled accounting entry that occurs consistently as to date and amount, e.g. a monthly lease payment.

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