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In this lecture, the term "debit memorandum" is defined according to fundamental accounting principles. A debit memorandum is a notification from the issuer that they have debited the recipient's account in the sender's records. It's important to remember that "debit" refers to the amount on the left-hand side of a ledger, without any other complex meanings. The debit memorandum underscores that the action is recorded in the sender's records, which may not align with the recipient's records. Understanding this distinction is crucial, as the debit often reflects an opposite movement compared to what the recipient's records may show.