Recording International and Internet Sales
Terms in this set (10)
Goods or services shipped out of a seller's home country to a foreign country.
Goods or services bought from a foreign country and brought into a buyer's home country.
Contract of Sale
A document that details all the terms agreed to by seller and buyer for a sales transaction.
Letter of Credit
A letter issued by a bank guaranteeing that a named individual or business will be paid a specified amount provided stated conditions are met.
Bill of Lading
A receipt signed by the authorized agent of a transportation company for merchandise received that also serves as a contract for the delivery of the merchandise.
A statement prepared by the seller of merchandise addressed to the buyer showing a detailed listing and description of merchandise sold, including prices and terms.
A written, signed, and dated order from one party ordering another party, usually a bank, to pay money to a third party.
A draft payable on sight when the holder presents it for payment.
A draft that is payable at a fixed or determinable future time after it is accepted.
A form signed by a buyer at the time of a sale of merchandise in which the buyer promises to pay the seller a specified sum of money, usually at a stated time in the future.
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OTHER SETS BY THIS CREATOR
Chapter 10: Accounting for Sales and Cash Receipts
Chapter 9: Accounting for Purchases and Cash Payments
Chapter 8 - Recording Closing Entries and Preparing a Post-Closing Trial Balance for a Service Business
Chapter 7 - Financial Statements for a Proprietorship