Across
- 1. A cash discount on sales taken by a customer
- 5. A person or business to which merchandise or services are sold
- 9. Changes recorded on a worksheet to update the general ledger accounts at the end of a fiscal period
- 10. Summarizes what a business owns, what a business owes, and the current net worth on a specific date
- 11. Credit allowed a customer to return the sales price of returned merchandise
- 15. The report that summarizes the cash and credit card sales of a point-of-sale terminal
- 16. A transaction in which the purchased merchandise is to be paid for at a later time
- 18. A GAAP principle that requires matching expenses incurred in an accounting period with the revenue earned in the same period
- 19. A columnar accounting form that is used to summarize the general ledger information needed to prepare the financial statements for a business
- 20. Accounts used to accumulate information from one fiscal period to another
Down
- 2. Journal entries recorded to update general ledger accounts at the end of the fiscal period
- 3. The process of preparing a batch report of credit card sales from a point-of sale terminal
- 4. A report of credit card sales produced by a point-of sale terminal
- 6. Credit allowed a customer for part of the sales price of merchandise that is not returned
- 7. The specific length of time a month, a quarter, or a year covered by the financial reports of a business
- 8. Source document listing the details of a sales return or allowance
- 12. Selling merchandise to the final use
- 13. Accounts used to accumulate information until it is transferred to the owner’s capital account
- 14. A sale in which cash is received for the total amount of the sale at the time of the transaction
- 17. The number assigned to the account