Study your flashcards anywhere!

Download the official Cram app for free >

  • Shuffle
    Toggle On
    Toggle Off
  • Alphabetize
    Toggle On
    Toggle Off
  • Front First
    Toggle On
    Toggle Off
  • Both Sides
    Toggle On
    Toggle Off
  • Read
    Toggle On
    Toggle Off

How to study your flashcards.

Right/Left arrow keys: Navigate between flashcards.right arrow keyleft arrow key

Up/Down arrow keys: Flip the card between the front and back.down keyup key

H key: Show hint (3rd side).h key

A key: Read text to speech.a key


Play button


Play button




Click to flip

16 Cards in this Set

  • Front
  • Back
Purchases is classified as what kind of account?
Cost of Merchandise
Prepaid Insurance is what kind of account?
Purchases Returns and Allowances is what kind of account?
Contra Cost of Merchandise
What account do you use when you buy merchandise?
A written request that a certain item or items be purchased.
Purchase Requisition
A written offer to a supplier to buy certain items.
Purchase Order
A form that lists the items included in the shipment.
Packing slip
A stamp that is placed on an invoice to enter the date it is to be paid, the discount amount, and the amount to be paid.
Processing Stamp
Suppliers offer charge customers a cash discount for early payment.
Purchases Discount
The time within which an invoice must be paid if the discount is taken.
Discount period
A folder for each day of the month in which invoices are placed according to their due date.
Tickler file
Used to notify suppliers (creditors) of a return or to request an allowance.
Debit Memo
The cost of insurance protection.
This is usually a percentage of the total of the amounts recorded on the bankcard sales slips processed.
Bankcard Fee Expense
The supplier pays the shipping cost to the buyer's destination or location.
FOB destination
The buyer pays the shipping charge from the supplier's shipping point.
FOB Shipping point