Chapter 7 Crossword

7. A customer billing for merchandise bought on credit
8. The difference between the balance in the Sales account and the balance in the Sales Return and Allowances account
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
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
11. A firm's acceptance of a return of goods from a customer
13. A reduction in the price originally charged to customers for good or services
14. A business that sells goods purchased for resale
16. A reduction from list price
17. An established retail price

1. A business that manufactures or distributes goods to retail businesses or large consumers such as hotels and hospitals
2. A business that sells services
3. A journal used to record only one type of transaction
4. A special journal used to record sales of merchandise on credit
5. A ledger dedicated to accounts of a single type and showing details to support a general ledger account
6. A business that sells directly to individual consumers
9. An account with a debit balance, which is contrary to the normal balance for a revenue account
12. A business that sells goods that it has produced
15. The list price less all trade discounts