accounting chapter 10
Terms
undefined, object
copy deck
- special amount column
- a journal amount column headed with an acount title
- wholesale merchandising business
- a business that buys and resells merchandise to retail merchandising businesses
- General amount column
- a Journal amount column that is not headed with an account title
- Cash payments journal
- a special journal used to record only cash payment transactions
- vendor
- a business from which merchandise is purchesed or supplies or other assets are bought
- purchases invoice
- an invoice used as a source document for recording purcheses on acccount
- merchandise
- the goods that a merchandising business purchases to sell
- cost of merchandise
- the price a business pays for goods it purchese to sell
- special Journal
- a journal used to record only one kind of transaction
- retail merchandising business
- a merchandising business that sells to those who use or conxume the goods
- markup
- the amount added to the cost of the merchandise to establish the selling price
- merchandising business
- a business that purcases and sells goods
- partnership
- a business in which two or more persons combine their assets and skills
- partner
- each member of a partnership
- terms of sale
- an aggreement between a buyer and a seller about the payment for merchandise
- purchases journal
- a special journal used to record only purcheses of merchandise on account