Chapter 7 Crossword

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Across
  1. 7. A customer billing for merchandise bought on credit
  2. 8. The difference between the balance in the Sales account and the balance in the Sales Return and Allowances account
  3. 9. A note verifying that a customer's account is being reduced by the amount of a sales return or sales allowance plus any sales tax that may have been involved
  4. 10. An account that links a subsidiary ledger and the general ledger since its balance summarizes the balances of the accounts in the subsidiary ledger
  5. 11. A firm's acceptance of a return of goods from a customer
  6. 13. A reduction in the price originally charged to customers for good or services
  7. 14. A business that sells goods purchased for resale
  8. 16. A reduction from list price
  9. 17. An established retail price
Down
  1. 1. A business that manufactures or distributes goods to retail businesses or large consumers such as hotels and hospitals
  2. 2. A business that sells services
  3. 3. A journal used to record only one type of transaction
  4. 4. A special journal used to record sales of merchandise on credit
  5. 5. A ledger dedicated to accounts of a single type and showing details to support a general ledger account
  6. 6. A business that sells directly to individual consumers
  7. 9. An account with a debit balance, which is contrary to the normal balance for a revenue account
  8. 12. A business that sells goods that it has produced
  9. 15. The list price less all trade discounts