Show:
Purchase
Accounts
Expenses
Equity
Assets
100
A deduction that a vendor allows on the invoice amount to encourage prompt payment.
What is a cash discount?
100
A petty cash on hand amount that is less than a recorded amount.
What is cash over?
100
A special journal used to record only cash payment transactions.
What is the cash payment journal?
100
A petty cash on hand amount that is less than a recorded amount.
What is cash short?
100
An organization with the legal rights of a person and which many persons may own.
What is a corporation?
200
A form prepared by the customer showing the price deduction taken by customer for returns and allowances.
What is a debit memorandum?
200
The retail price listed in a catalog or on an internal site.
What is the list price?
200
The amount added to the cost of merchandise to establish the selling price.
What is the markup?
200
An invoice used as a source document for recording a purchase on account transaction.
What is a purchase invoice?
200
A transaction in which the merchandise purchased is to be paid for later.
What is a purchase on account?
300
Credit allowed for part of the purchase price of merchandise that is not returned, resulting in a decrease in the customer's accounts payable.
What is a purchase allowance?
300
A cash discount on purchases taken by a customer.
What is a purchase discount?
300
Credit allowed for the purchase price of returned merchandise, resulting in a decrease in the customer's accounts payable.
What is a purchase return?
300
A merchandise business that sells to those who use or consume goods.
What is a return merchandise business?
300
Each unit of ownership in a corporation.
What is a share of stock?
400
A journal amount column headed with an account title.
What is a special amount column?
400
An owner of one or more shares of a corporation.
What is a stockholder?
400
An agreement between a buyer and a seller about payment for merchandise.
What are terms of sale?
400
A reduction in the list price granted to customers.
What is a trade discount?
400
A business from which merchandise is purchased or supplies or other assets are bought.
What is a vendor?
500
An account that reduces a related account on a financial statement.
What is a contra account?
500
The price a business pays for goods if purchases sell.
What is cost of merchandise?
500
A journal amount column that is not headed with an account title.
What is the general amount column?
500
A business that buys and resells merchandise to retail merchandising businesses.
What is a wholesale merchandising business?
500
A special journal used to record only purchases of merchandise on account.
What is the purchase journal?