| A | B |
|---|
| sales discount | a cash discount on sales |
| sales return | credit allowed a cusomer for the sales price of returned merchandise, resulting in a decrease in the vendor's accounts |
| sales allowance | credit allowed a customer for part of the sales price of merchandise that is not returned, resulting in a decrease in the vendor's accounts receivable |
| credit memorandum | a form prepared by the vendor showing the amoutn deducted for returns and allowances |
| exports | goods or services shipped our of a seller's home country to a foreign country |
| imports | goods or services bought from a foreign country and brought into a buyer's home country |
| contract of sale | a document that details all the terms agreed to by seller and buyer for a sales transaction |
| letter of credit | a letter issued by a bank guaranteeing that a named individual or business will be paid a specified amount, provided stated conditions are met |
| bill of lading | a receipt signed by the authorized agent of a transportation company for merchandise received that also serves as a contract for the delivery of the merchandise |
| commercial invoice | a statement prepared by the seller of merchandise addressed to the buyer, showing a detailed listing and description of merchandise sold, including prices and terms |
| draft | a written, signed, and dated order from one party ordering another party, usually a bank, to pay money to a third partyq |
| sight draft | a draft payable on sight, when the holder presents it for payment |
| time draft | a draft that is payable at a fixed or determinable future time after it is accepted |
| trade acceptance | a form signed by a buyer at the time of a sale of merchandise, in which the buyer promises to pay the seller a specified sum of money, usually at a stated time in the future |
