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Maplewood Rice Acctg Ch 9 Set 4

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Question
Answer
trade discount   reduction in the list price granted to customers  
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contra account   an account that reduces a related account on a financial statement  
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cash short   petty cash on hand account that is less than recorded amount  
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cash over   a petty cash on hand account that is more than a recorded amount  
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purchases return   credit allowed for the purchase price of returned merchandise  
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purchases allowance   credit allowed for part of the purchase price of merchandise that is not returned  
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debit memorandum   form prepared by the customer showing the price deduction taken by the customer for returns and allowances  
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