Term
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Definition
| goods that a business purchases and sells. |
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Term
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Definition
| a business that purchases & sells goods. |
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Term
| retail merchandising business |
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Definition
| a merchandising business that sells goods to those who use or consume the goods |
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Term
| wholesale merchandising business |
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Definition
| a business that buys & resells merchandise to retail merchandising businesses. |
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Term
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Definition
| a journal used to record only one kind of transaction |
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Term
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Definition
| the price a business pays for goods it purchases to sell. |
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Term
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Definition
| the amount added to the cost of merchandise to establish the selling price. |
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Term
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Definition
| a bussiness from which merchandise is purchased or supplies or other assets are bought. |
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Term
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Definition
| a transaction in which the merchandise purchased is to be paid for later. |
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Term
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Definition
| a specialjournal used to record only purchases of merchandise on account |
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Term
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Definition
| a journal amount coloumn headed with an account title. |
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Term
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Definition
| an invoice used as a source document for reading a purchase on account transaction. |
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Term
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Definition
| a special journal used to record only cash payment transactions. |
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Term
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Definition
| a deduction that a vendor allows on the invoice amount to encourage prompt payment. |
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Term
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Definition
| a cash discount on purchases taken by a customer. |
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Term
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Definition
| a journal amount coloumn that is not headed with an account title. |
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Term
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Definition
| the retail price listed in a catalog or on an intenet site. |
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Term
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Definition
| a reduction in the list price granted to costumers. |
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Term
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Definition
| an account that reduces a related account on a financial statement. |
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Term
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Definition
| a petty cash on hand amount that is less than a recorded amount |
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Term
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Definition
| a petty cash on hand amount that is more than recorded amount. |
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Term
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Definition
| credit allowed for the purchase price of merchandise that is not returned, resulting in a decrease in the costumer's accounts payable. |
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Term
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Definition
| credit allowed for part of the purchase price of merchandise that is not returned, resulting ina decrease in the costumers accounts payable. |
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Term
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Definition
| a form prepared by the costumer showing the price deduction taken by the customer for returns and allowences. |
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