| A | B |
|---|
| cost of merchandise | the actual cost to the business of the merchandise to be sold to cutomers |
| tickler file | contains a folder for each day of the month. |
| discount period | the period of time within which an invoice must be paid if a discount is to be taken |
| purchase order | a written offer to a supplier to buy specific items |
| accounts payable subsidiary ledger | a ledger that contains accounts for all creditors and the amount owed to each |
| processing stamp | is a stamp placed on a creditor’s invoice that outlines payment |
| purchases account | the account used to record the cost of merchandise purchased during a period |
| purchase requisition | A written request that a certain item or items be ordered |
| due date | the date by which an invoice must be paid. |
| packing slip | A form that lists the items included in a shipment |
| purchases discount | cash discount offered by suppliers for prompt payment |
| bankcard fee | charged by a bank for handling the bankcard sales slips |
| FOB destination | means that the supplier pays the shipping cost to the buyer’s destination |
| premium | the amount paid for insurance |
| purchases return | When a business returns merchandise bought on account to the supplier for full credit |
| FOB shipping point | the buyer pays the shipping charge from the supplier’s place of business |
| purchases allowance | A price reduction received by a business for unsatisfactory merchandise kept |
| debit memorandum | The form a business uses to notify its supplier of a return or allowance |
