Accounting 2 - Chapter 5 Review

What is the name of the payee when recording semi-monthly payroll?

The amount of earnings for payroll is recorded into what account?

What account does vouchers payable replace?

In the check register, what account is always debited?

A voucher filled out on October 10th has the terms of 2/15, n/30 on it, what is the due date?

The use of a voucher system eliminates the use of posting to the

What is the normal balance for purchases returns and allowances?

In a return of merchandise, what must first be done before paying the current amount due?

What is the discount provided in the following terms 4/15, n/45

What journal replaces a cash payments journal in a voucher system?

What is recorded as the payee in the check register when depositing money?

Before a purchase on account and voucher is recorded they must be

The normal balance for vouchers payable is a 

Unpaid vouchers are organized by?

One of the major purposes of a voucher system is to provide

When journalizing a cancelled voucher, the credit to vouchers payable is for the amount of

In a voucher system, the amount of money owed to person/business is tracked by following

The amount of money that is going to be paid for payroll is recorded into what account?

What is the source document for paying off a voucher?

How are paid vouchers filed?