PUHSD Acct 1-2 Les 11-1 & 11-2 Vocab

Front

What is a journal with two amount columns in which all kinds of entries can be recorded?

Back

general journal

Front

What is a credit allowed for the purchase price of returned merchandise, resulting in a decrease in the customer's account payable to the vendor?

Back

purchases return

Front

What is a credit allowed for part of the purchase price of merchandise that is not returned, resulting in a decrease in the customer's account payable to the vendor?

Back

purchases allowance

Front

What is a form prepared by the customer showing the price deduction taken by the customer for a return or an allowance?

Back

debit memorandum

Front

What is a credit allowed to a customer for the sales price of returned merchandise, resulting in a decrease in the accounts receivable of the merchandising business?

Back

sales return

Front

What is a credit allowed to a customer for part of the sales price of merchandise that is not returned, resulting in a decrease in the accounts receivable of the merchandising business?

Back

sales allowance

Front

What is a form prepared by the vendor showing the amount deducted for returns and allowances?

Back

credit memorandum