| A | B |
|---|
| Merchandise | Goods that a business purchases to sell. |
| Merchandising business | A business that purchases and sells goods. |
| Retail merchandising business | A merchandising business that sells to those who use or consume the goods. |
| Wholesale merchandising business | A business that buys and resells merchandise to retail merchandising businesses. |
| Special journal | A journal use to record only one kind of transaction. |
| Purchase invoice | An invoice used as a sourc document for recording a purchase on acconunt. |
| List price | the retail price listed in the catalog. |
| trade discount | a reduction in the list price. |
| Vendor | The person or business from which goods or services are purchased. |
| Cost of merchandise | The price paid by a business for goods it purchases to resell |
| Purchase on account | A transaction in which the purchased merchandise is to be paid for at a later time. |
| Purchase invoice | A source document used to record a purchase on account. |
