Accounting term 1

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Across
  1. 2. represent any value taken from the business by the owner of that business
  2. 5. is used to record low value cash payments
  3. 9. is the total resources provided by the owner and represents what the business owes the owner
  4. 11. the amount spent each period is restored so that the petty cashier starts each period with the same amount
  5. 12. is the process making a debit entry and a credit entry for each transaction
  6. 14. is the goods a business has available for resale
Down
  1. 1. represent the amount the business owes to the credit suppliers of goods
  2. 3. is a cheque received which the debtor's bank refuses to pay
  3. 4. Is the detailed recording of all financial transactions of a business
  4. 6. is using book-keeping records to prepare financial statements and to assist in decision making
  5. 7. represent the amount owed to the business by its credit customers
  6. 8. represent anything owed by the business
  7. 10. represent anything owned by or owing to the business
  8. 13. overdraft occurs when more has been paid out of the than was put into the bank account