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In this lecture, the term "debit memorandum" is defined according to accounting principles. A debit memorandum is a notice from the issuer indicating that they have debited the recipient's account in their own records. It is important to understand that "debit" refers specifically to the amount on the left-hand side of a ledger. The debit memorandum serves as a notification from the sender about the debit made to the recipient's account, emphasizing that this action is recorded in the sender's records, which may not reflect the recipient's records. Thus, while the term "debit" always signifies the left-hand side amount, the context of the debit memorandum indicates a distinct accounting action.
