Chapter 9 Review

A listing of vendor accounts, account balances, and the total amount due to all vendors.

• Schedule of Accounts Payable

• List Price

• Purchase Order

• Contra Account

The maximum outstanding balance allowed to a customer by a vendor.

• List Price

• Corporation

• Credit Limit

• Cash Discount

A journal amount column that is not headed with an account title.

• Perpetual Inventory

• Purchase Order

• Share of Stock

• General Amount Column

A deduction that a vendor allows on an invoice amount to encourage prompt payment.

• Cash Discount

• Credit Limit

• Trade Discount

• Terms of Sale

A journal used to record only one kind of transaction.

• Purchase Order

• Special Journal

• Requisition

• Terms of Sale

A form requesting that a vendor sell merchandise to a business.

• Cash Discount

• Special Journal

• Wholesale Merchandising Business

• Purchase Order

An inventory determined by keeping a continuous record of increases, decreases, and the balance on hand of each item of merchandise.

• Wholesale Merchandising Business

• Contra Account

• Perpetual Inventory

• Trade Discount

A form requesting the purchase of merchandise.

• Requisition

• General Amount Column

• Special Journal

• Trade Discount

An account that reduces a related account on a financial statement.

• Credit Limit

• Schedule of Accounts Payable

• Contra Account

• Controlling Account

A merchandise inventory evaluated at the end of a fiscal period.

• Periodic Inventory

• Purchase Order

• Requisition

• Wholesale Merchandising Business