goods that a business purchases to sell
a business that purchases and sells goods
Retail Merchandising Business
a merchandising business that sells to those who use or consume the goods
Wholesale Merchandising Business
a business that buys and resells merchandise to retail merchandising businesses
an organization with the legal rights of a person and which many persons may own
Share of Stock
each unit of ownership in a corporation
total shares of ownership in a corporation
an owner of one or more shares of a corporation
a journal used to record only one kind of transaction
Cost of Merchandise
the price a business pays for goods it purchases to sell
the amount added to the cost of merchandise to establish the selling price.
a business from which merchandise is purchased or supplies or other assets are bought
Purchase on Account
a transaction in which the merchandise purchased is to be paid for later
a special journal used to record only purchases of merchandise on account
Special Amount Column
a journal amount column headed with an account title
an invoice used as a source document for recording a purchase on account transaction
Terms of Sale
an agreement between a buyer and a seller about payment for merchandise
Cash Payments Journal
a special journal used to record only cash payment transactions
a deduction that a vendor allows on the invoice amount to encourage prompt payment
a cash discount on purchases taken by a customer
General Amount Column
a journal amount column that is not headed with an account title
the retail price listed in a catalog or on an Internet site
a reduction in the list price granted to customers
an account that reduces a related account on a financial statement
a petty cash on hand amount that is less than a recorded amount
a petty cash on hand amount that is more than a recorded amount
credit allowed for the purchase price of returned merchandise, resulting in a decrease in the customer's accounts payable
credit allowed for part of the purchase price of merchandise that is not returned, resulting in a decrease in the customer's accounts payable
a form prepared by the customer showing the price deduction taken by the customer for returns and allowances
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