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20 Cards in this Set
- Front
- Back
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capital stock
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the total shares of ownership in a corporation
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cash discount
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a deduction that a vender allows on the invoice amount to encourge prompt payment
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cash payment journal
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a special journal used to record only cash payment transaction
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contra account
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an account the reduces a related account on a financial statement
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corporation
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an organization with the legal rights of a person which many persons may own
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coast of merchandise
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the price a buisness pays for goods to sell
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debit memoranda
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the merchandise purched is to be payed later
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list price
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a retail price listed on a catolog or on a n internet site
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markup
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the amount add to the coast of merchandise to est. the selling price.
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purchase invoice
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the invoice used as a source doc. for recording a purchase on account
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purchase on account
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a deduction that the vender allows on the invoice
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purchase allowance
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cash discount taken by a costumer
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purchase discount
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cash discount taken by person buying
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purchase return
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cash discount on purchase taken by a costumer
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share of stock
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each unit of ownership in a corporation
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stockholder
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an owner of one or more shares of a corporation
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term of sales
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agreement between buyer and seller about payment
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trade discount
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a reduction in the list price granted toi the costumer
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vender
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form prepaired by the costumer showing the price deduction.
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terms of sales
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an agreement between buyer ans sellerabout payment.
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