College Accounting Ch 10
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| Accounts Receivable Ledger | A separate ledger containing an individual account receivable for each customer, kept in either alphabetical or numerical order.
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| Cash Discounts | Discounts to encourage prompt payment by customers who buy merchandise an account.
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| Controlling Account | A summary account maintained in the general ledger with a subsidiary ledger (for example, the accounts receivable ledger).
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| Credit Memo | A document issued when credit is given for merchandise returned or for allowance.
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| Merchandising Business | A business that purchases merchandise such as clothing, furniture, or computers, and sells that merchandise to its customers.
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| Sale | A transfer of merchandise from one business or individual to another in exchange for cash or a promise to pay cash.
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| Sales Allowances | Reductions in the price of merchandise granted by the seller because of defects or other problems with the merchandise.
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| Sales Discounts | To the seller, cash discounts are considered sales discounts.
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| Sales Invoice | A document that is generated to bill the customer to whom the sale was made.
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| Sales Return | Merchandise returned by the customer for a refund.
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| Sales Ticket | A document created as evidence of a sale in a retail business.
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| Schedule of Accounts Receivable | An alphabetical or numerical listing of customer accounts and balances, usually prepared at the end of the month.
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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