JAMB Accounts Principles of Accounts 2016 Paper

Bank statement is a printed record of the balance in a bank account and the amounts that have been paid into it and withdrawn from it, issued periodically to the holder of the account.

A debit note is a document sent by a buyer to seller or in other words a purchaser to a vendor notifying that a debit has been made to their accounts. A debit memo on a company's bank statement refers to a deduction by the bankfrom the company's bank account. In other words, a bank debit memo reduces thebank account balance similar to a check drawn on the bank account.