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In this lecture, the term "debit memorandum" is defined according to the 22nd edition of fundamental accounting principles. A debit memorandum is a notification from the issuer that they have debited the recipient's account in their own records. It is important to remember that "debit" refers to the amount on the left-hand side of a ledger. The focus is on the sender's records, not the recipient's, which can lead to discrepancies between the two. Thus, understanding that "debit" simply signifies the entry on the left side is crucial in the context of debit memorandums.