accounts receivable subsidiary ledger
A separate ledger that contains accounts for all charge customers; it is summarized in the Accounts Receivable controlling account in the general ledger.
price reduction given to buyers for prompt payment or cash payment
Amount of money that is present in the cash register drawer at the end of the day minus the starting bank
A sale in which cash is received for the total amount of the sale at the time of the transaction
cutomer whom a sale on account is made
an account that reduces a related account on a financial statement
an account in a general ledger that summarizes all accounts in a subsidiary ledger
a card that allows a person to charge at the moment and pay later
A form prepared by the vendor showing the amount deducted for returns and allowances.
Terms for payment on account by the buyer to the seller.
making an itemized list of merchandise or supplies on hand
commodities offered for sale
a merchant who sells goods at retail
sale on account
a sale for which cash will be received at a later date
income (at invoice values) received for goods and services over some given period of time
credit allowed a customer for part of the sales price of merchandise that is not returned, resulting in a decrease in the vendor's accounts receivable
A cash discount on sales taken by a customer
credit allowed a customer for the sale price of returned merchandise, resulting in a decrease in the vendor's accounts receivable
a form that lists the details of a sale
a tax based on the cost of the item purchased and collected directly from the buyer
details of an account supporting the amount stated in the general ledger
someone who buys large quantities of goods and resells to merchants rather than to the ultimate customers