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In this lecture, the focus is on the term "debit memorandum," defined according to fundamental accounting principles. A debit memorandum is a notification from the issuer that indicates they have debited the recipient's account in their records. The term "debit" refers specifically to the amount on the left-hand side of a ledger. It's crucial to understand that this debit is recorded in the sender's records, not the recipient's records, which can often result in opposite effects in their respective accounting entries. Throughout the explanation, the definition and context of "debit" are emphasized to clarify its meaning.