9.1-9.3 Accounting

A merchandising business sells __________ to consumers. 

Once you complete a page in the purchases journal, which of these do you NOT have to do?

When you go through a store and hand count the items you have, it is called a ___________

What step is next? 1. Employee fills in a Purchase Requisition

A list of assets of a company is called an ___________

The accounts payable account has a normal balance side of 

Which is not a special journal?

A ledger that is summarized in a smaller general ledger account is called  _____

The purchases account has a normal balance side of

An agreement between a buyer and a seller about payment for merchandise (usually n/30)

Which is not an example of merchandising inventory for a grocery store?

The Purchases account acts like the expense accounts so the normal balance side is ___

A ____ is an organization with the legal rights of a person which many persons may own. 

When do you receive an invoice from a vendor?

A business from which merchandise, supplies, or assets is purchased is called a _____