Accounting Chap 11 Word Scramble
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| Term | Definition |
| Purchase Return | Credit allowed for the purchase price of returned merchandise, resulting in a decrease in the accounts receivable of the merchandising business. |
| Purchase Allowance | Reduction off the purchase price of merchandise that is not returned to the vendor, resulting in a decrease in the account payable to the vendor. |
| Debit Memorandum | A form prepared by the customer showing the price deduction taken by the customer for a return or an allowance. |
| Sales Return | Credit allowed to a customer for the sales price of returned merchandise, resulting in a decrease in the accounts receivable of the merchandising business. |
| Sales Allowance | Reduction off the sales price of merchandise to a customer that is not returned, resulting in a decrease in the accounts receivable to the merchandising business. |
| Credit Memorandum | A form prepared by the vendor showing the amount deducted for returns and allowances. |
| Retained Earnings | An amount earned by a corporation and not yet distributed to stockholders. |
| Dividends | Earnings distributed to stockholders. |
| Declaring a Dividend | Action by a board of directors to distribute corporate earnings to stockholders. |
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Knuddar
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