Advanced Accounting: Chapter 14 Review

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Across
  1. 3. a transaction in which the business received pull payment for the merchandise sold at the time of sale
  2. 6. the sale of merchandise that will be paid for a later date
  3. 10. the amount a customer can deduct from the total owed for purchased merchandise if payment is made within a certain time
  4. 11. a business that sells to the retailers
  5. 13. a form that lists the details of a sale
  6. 14. terms that state the time allowed for payment for a sale on account
  7. 16. a price reduction granted for damaged goods kept by the customer
  8. 17. the cash received by a business in a single transaction
  9. 18. a customer to whom a sale on account is made
  10. 20. a card issued by a business containing a customers name and account number that facilitates the sale on account
  11. 21. an account whose balance is a decrease to its related account
Down
  1. 1. amount owed to a business by customers for goods or services provided on credit
  2. 2. the items of merchandise a business has in stock
  3. 4. a separate ledger that contains accounts for each charge customer
  4. 5. any merchandise returned for credit or a cash refund
  5. 7. goods bought to resell to customers
  6. 8. Sales Returns & Allowances is what type of account?
  7. 9. a revenue account to record the amount of merchandise sold
  8. 12. an account that serves as a control on the accuracy of the account balances in the subsidiary ledger
  9. 15. a tax levied by a city or state on the retail sale of goods and services
  10. 19. a business that sells to the final user, the consumer