Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
10 Cards in this Set
- Front
- Back
|
Purchasing merchandise for resale?
|
DR Merchandise Inventory
CR Cash or AP |
|
|
Paying freight, FOB shipping point
|
DR Merchandise Inventory
CR Cash |
|
|
Paying w/i discount period
|
DR Accounts Payable
CR Merchandise Inventory CR Cash |
|
|
(Purchases) Recording purchase returns or allowances
|
DR Cash or AP
CR Merchandise Inventory |
|
|
Selling merchandise
|
DR Cash or AP
CR Sales DR COGS CR Merchandise Inventory |
|
|
Receiving payment w/i discount period
|
DR Cash
DR Sales Discount CR Accounts Receivable |
|
|
(selling) Granting sales returns or allowances
|
DR Sales returns and allowances
CR Cash or AR DR Merchandise Inventory CR COGS |
|
|
Paying freight, FOB Destination
|
DR Delivery Expense
CR Cash |
|
|
Reimburse petty cash w/ dr to coas
|
DR Misc Exp
DR Cash over and short CR Cash |
|
|
Establish petty cash
|
DR Petty cash
CR Cash |
