Accounting concepts

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Across
  1. 2. how quickly receivables are collected
  2. 4. not paid by the required date
  3. 6. amounts that are unlikely to be collected
  4. 12. income earned from normal business activities
  5. 13. a summary account in the general ledger
  6. 15. a record containing financial accounts
  7. 18. a resource expected to provide future economic benefit
  8. 19. money taken out of the business by the owner
  9. 23. a document used to record a sale and show the amount due
  10. 24. another term for the cost of delivery of goods
  11. 26. the length of time allowed for payment
Down
  1. 1. amounts owed to a business by its customers
  2. 3. a document used to reduce a customer's balance
  3. 5. the amount remaining in an account at a given time
  4. 7. the owner's claim on the business assets
  5. 8. the cost of transporting goods
  6. 9. an estimate used for uncollectible receivables
  7. 10. a cost incurred to earn revenue
  8. 11. the difference between revenue and expenses
  9. 14. buying goods now and paying later
  10. 16. the amount invested in the business by the owner
  11. 17. a reduction in price or amount payable
  12. 20. an amount the business owes to others
  13. 21. the most liquid asset of a business
  14. 22. a document used to increase a customer's balance
  15. 25. goods held for sale in a business