A business that sells to the final user (the consumer)

A business that sells to the retailers.

Goods bought to resell to customers.

The items of merchandise a business has in stock.

An example of this is Walmart.

Revenue account to record amount of merchandise sold.

Amount of merchandise sold.

Sale of merchandise that will be paid on a later date.

Customer to whom a sale on account is made.

A card issued by businesses containing a customer's name and account number that facilitates the sales on account.

A form that lists the details of a sale.

A tax levied by a city or state on the retail sale of goods and services.

Terms that state the time allowed for payment for a sale on account.

Net 30; full amount due in 30 days

A separate ledger that contains accounts for each charge customer; it is summarized in the Accounts Receivable controlling account in the general ledger.

An account that serves as a control on the accuracy of the account balances in the subsidiary ledger; its balance must equal the total of all account balances in the subsidiary ledger.

A ledger with detailed data that is summarized in a controlling account in the general ledger.

Any merchandise returned for credit or a cash refund.

A price reduction granted for damaged goods kept by the customer.

A form that lists the details of a sales return or sales allowance.

An account whose balance is a decrease to its related account.

The cash received by a business in a single transaction.

A transaction in which the business received full payment for the merchandise sold at the time of the sale.

The amount a customer can deduct from the total owed for purchased merchandise if payment is made within a certain time.

A credit card issued by a bank and honored by many businesses.

A form that serves as a record of cash received.