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In this lecture, the term "debit memorandum" is defined according to fundamental accounting principles. A debit memorandum serves as a notification from the issuer that the recipient's account has been debited in the sender's records. It is essential to understand that "debit" refers specifically to the amount recorded on the left-hand side of a ledger. The key point is that the notification indicates a debit on the sender's side, not the recipient’s records. This distinction is crucial, as it highlights that the debit action may counter the recipient's records. Thus, throughout this context, "debit" consistently pertains to that left-hand amount.
