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Parson Sales & Cash Receipts - Merch Business

Quiz yourself by thinking what should be in each of the black spaces below before clicking on it to display the answer.
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Question
Answer
A9n) ___ is a book that is summarized in a controlling account in the general ledger   show
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show cash discount  
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show Contra Account  
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A(n) ___ is a credit card issued by a bank and honored by many buisinesses   show
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show Receipt or Cash Receipt  
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A(n) ___ is a business that sells to the final user   show
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A(n) ___ is a transaction that occurs when a business receives full payment for the merchandise sold at the time of the sale   show
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show Sales Slip  
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show Accounts Receivable subsidiary ledger  
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show Cash receipt or Receipt  
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show Merchandise  
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show Charge customer  
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Merchandise returned to the seller for full credit is a(n) ____   show
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show Controlling Account  
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Many states and some cities require that a business add a(n) ____ or a percentage of the selling price of the goods, at the time of the sale.   show
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The ____ of a sale set out the time allowed for payment.   show
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show Wholesaler  
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A charge customer is entitled to charge merchandise with a(n) _____.   show
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The items of merchandise a business has in stock are referred to as _____.   show
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A(n) ___ permits a customer to pay for the merchandise at a later date.   show
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show Retailer or Merchandising Business  
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A(n) ___ is a document prepared by the seller granting credit for damaged or returned merchandise.   show
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show Sales Allowance  
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The revenue account for a merchandising business is ____.   show
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A cash discount issued by the seller is a(n) ___.   show
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show Sales Journal  
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show Footing.  
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All transactions in which cash is received are recorded in the ______.   show
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show Schedule of Accounts Receivable  
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show Special Journal  
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Created by: yparson
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