Mod C - Chapter 5 - Study Guide sheet (lab)

25 terms by Kdejonge95 

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blank endorsement

type of endorsement in which only a signature is listed on the back of a check

aging report

determining how long an account with or without a balance has been outstanding

debit

if you owe money it is

asset

anything of value is considered an

accounts receivable

record of patient transactions showing an amount due

accounts payable

money and funds owed to someone else

restrictive

type of endorsement a business should use when depositing a check

Federal Truth in Lending Act

responsible for regulations that apply to written payment agreements

one-write system

also known as pegboard

encounter form

also known as superbill

gross wages

total amount of money earned before deductions are taken

statement

document indicating the activity in an account

net wages

total amount of money paid for work, minus deductions

balance sheet

report on the financial conditions of a business on a certain date

payee

person receiving payment of a debt

fee schedule

listing of a physicians charges for services

payer

person paying a debt

financial statement

reports that indicate the financial condition of a business

post dated

using a written future date

income statment

report showing the results of income and expenses over time

T-account

tool used to analyze the effect of a transaction on an account

assests

anything of value owned by a business that can be used to acquire other items

workers compensation

system that provides insurance to the employer for a woker injured on the job

write- off

amount of money not able to be collected

transaction

financial activity of a business

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