Accounting I Chapter 9 Vocabulary

A form prepared by the customer showing price reduction taken by the customer.

A merchandising business that sells to those who use or consume the goods.

Credit allowed for part of the purchase price of merchandise that is not returned.

A cash discount on purchases taken by a customer.

A journal amount column headed with an account title.

The retail price listed in a catalog or on an internet site.

A reduction in the list price granted to customers.

Each unit of ownership in a corporation.

A business that buys and resells merchandise to retail merchandising businesses.

A transaction in which the merchandise purchased is to be paid for later.

An organization with the legal rights of a person and which many persons may own.

A petty cash on hand amount that is less than a recorded amount.

An account that reduces a related account on a financial statement.

The amount added to the cost of merchandise to establish the selling price.

A journal used to record only one kind of transaction.

An invoice used as a source document for recording a purchase on account transaction.

A special journal used to record only cash payment transactions.

Goods that a business purchases to sell.

A deduction that a vendor allows on the invoice amount to encourage prompt payment.

The price a business pays for goods it purchases to sell.

Credit allowed for the purchase price of returned merchandise, resulting in a decrease in A/P.

An agreement between a buyer and a seller about payment for merchandise.

A journal amount column that is not headed with an account title.

A petty cash on hand amount that is more than a recorded amount.

A business from which merchandise is purchased or supplies or other assets bought.

A business that purchases and sells goods.