cash receipts journal
A special journal used to record only cash receipt transactions.
A deduction that a vendor allows on the invoice amount to encourage prompt payment.
writing off an account
Canceling the balance of a customer account because the customer does not pay.
straight line depreciation
Charging an equal amount of depreciation expense for a plant asset in each year of useful life.
A special journal used to record only purchases of merchandise on account transactions.
An organization with the legal rights of a person and which may be owned by many persons.
Accounts receivable that cannot be collected.
An account that reduces a related account on a financial statement.
A special journal used to record only sales of merchandise on account transactions.