Term
Purchases Discounts is classified as a:
A), B), C), D) |
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Definition
| A) Cost of Merchandise Account |
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Term
The source document for a transaction recorded in the sales journal is a:
A), B), C), D) |
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Definition
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Term
A sales return or allowance transaction must be posted to:
A), B), C), D) |
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Definition
D) Both B and C.
B) The Accounts Receivable account.
C) The customer's account in the subsidiary ledger. |
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Term
A column total written in small pencil figures is called a:
A), B), C), D) |
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Definition
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Term
When a business uses special journals, a correcting entry would be recorded in the:
A), B), C), D) |
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Definition
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Term
If the date of an invoice is May 14, the credit terms are 2/10, n/30, and the invoice was received on May 16, the last date the discount can be taken is:
A), B), C), D) |
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Definition
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Term
Proving cash should be completed:
A), B), C), D) |
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Definition
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Term
The form that lists the items included in a shipment of merchandise to a buyer is the:
A), B), C), D) |
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Definition
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