Credit transactions

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Across
  1. 4. Summarises all transactions involving providing services on credit during a period.
  2. 7. Source document that verifies all credit transactions.
  3. 9. Asset that increases when there is a receipt from accounts receivable.
  4. 12. Asset that increases when a business issues a sales invoice to a customer.
  5. 13. Gets recorded in the Sales Journal.
  6. 14. Asset that increases when a business makes a credit purchase.
  7. 15. Increases when a business provides credit fees.
Down
  1. 1. Summarises all transactions involving the purchase of materials or supplies on credit during a period.
  2. 2. Asset that decreases when a business makes a payment to accounts payable.
  3. 3. Source documents are necessary due to this qualitative characteristic
  4. 5. Liability that decreases when a business makes a payment to accounts payable.
  5. 6. The overall effect on assets, liabilities and owner's equity when there is a receipt from accounts receivable.
  6. 8. Liability that increases when a business makes a credit purchase.
  7. 10. Gets recorded in the Purchases Journal.
  8. 11. Liability that decreases when a business receives a purchase invoice and increases when a business issues a sales invoice.