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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, indicating that they have debited the recipient's account in their own records. The term "debit" simply refers to the amount on the left side of a ledger. It is important to note that this debit is recorded in the sender's records, not the recipient's, which means that it may reflect an opposite action compared to what is recorded by the recipient. Understanding this distinction is crucial for grasping the concept of debit memoranda in accounting.