Accounting Chapter 9 Terms 1

A journal amount column headed with an account title.

A journal used to record only one kind of transaction.

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

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

A special journal used to record only purchases of merchandise on account.

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

An owner of one or more shares of a corporation.

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

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

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

Each unit of ownership in a corporation.

An agreement between buyer and seller about payment for merchandise.

 Total shares of ownership in a corporation.

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

A business that purchases and sells goods.

Goods that a business purchases to sell.

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