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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 the sender's records. It is crucial to understand that "debit" refers specifically to the amount on the left-hand side of a ledger, without any other meanings. The debit memorandum indicates a transaction recorded by the sender, not the recipient, which means it may represent an opposite action in the recipient's records. The key takeaway is that the term relates to the sender’s perspective and is focused on the left-hand side of the ledger.