| A | B |
|---|
| accounts receievable subsidiary ledger | a separate ledger that contains accounts for each charge customer |
| cash discount | The amount a customer can deduct from the total owed for purchased merchandise if payment is made within a certain time |
| cash receipt | Cash recieved by a business in a single transaction |
| cash sale | transaction in which theb business receives full payment for the merchandise sold at the time of the sale |
| charge customer | A customer to whom a sale on account is made |
| contra account | Account whose balance is a decrease to its related account |
| controlling account | account that servees as a control on the accuracy of the account balances in the subsidiary ledger |
| credit cards | a card issued by a business containing a customer's name and account number that facilitates the sale on account |
| credit memorandum | A form that lists the details of a sales return or sales allowance |
| credit terms | Terms that state the time for allowed payment for a sale on account |
| inventory | The items of merchandise a business has in stock |
| merchandise | Goods bought to resell to customers |
| retailer | business that sells to the final user, the consumer |
| sale on account | the sale of merchandise that will be paid for at a later date |
| Sales | A revenue account to record the amount of the merchandise sold |
| sales allowance | Price reduction granted for damaged goods kept by the customer |
| sales discount | See cash discount |
| sales return | any merchandise returned for credit or a cash refund |
| sales slip | A form that lists the details of a sale |
| sales tax | A tex levied by a city or state on the retail sale of goods and services |
| subsidiary ledger | A ledger with detailed data that is summarized in a controlling account in the general ledger |
| wholesaler | Business that sells to retailers |
