| A | B |
|---|
| Accounts receivable subsidiary ledger | a separate ledger that contains accounts for all charge customers |
| Bankcard | issued by a bank and honored by many businesses |
| Cash reciet | a transaction in which money comes in to a business |
| Cash slae | when the 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 | an account whose balance is a decrease to another account |
| Controlling account | an account that acts as a control on the accuracy of the accounts in a related subsidiary ledger |
| Credit cards | cards containing a customer’s name and account number presented when buying merchandise on account |
| Merchandise | goods bought for resale to customers |
| Retailer | a business that sell s to the final user, the consumer |
| Sale on account | the sale of merchandise that will be paid for at a later date |
| Sales return | any merchandise returned for credit or a cash refund |
| Sales slip | a form that lists the details of a sale |
| Sales allowance | a price reduction granted for damaged goods kept by the customer |
| Sales | a revenue account to record the amount of the merchandise sold |
| Sales discount | amount a customer can deduct from the amount owed from purchased merchandise if payment is made within a certain time |
| Credit memorandum | a from that lists the details of a sales return or sales allowance |
| Credit terms | terms that set out the time allowed for payment for a sale on account |
| Inventory | the items of merchandise a business has in stock |
| Wholesaler | a business that sells to retailers |
| Subsidiary ledger | a ledger that is summarized in a controlling account in the general ledger |
| Sales tax | a tax levied by a city or state on the retail sale of merchandise |
