Accounting

business that sells to wholesalers

retailer
business that sells to retailer

wholesaler
goods bought for resale

merchandise
items of merchandise the business has for sale

inventory
form that lists the details of a sale

sale slip
state the time allowed for customer to provide payment

credit terms
account whose balance equals the total of all account balances in subsidary ledger

controlling account
lists the details of a sales return or allowance

credit memo
balance decreases the balance of the related account

contra account
transcation in which money comes into the business

cash receipts
business recieves full payment for the merchandise sold at the time of the sale

cash sale

Author

Anonymous

20462

Card Set

Accounting

Description

chapter 14 accounting 1 semester 2

Updated

2010-05-23T23:33:45Z

Show Answers