Accounting for Purchases and Cash Payments: Key Concepts
The key terms in this section are:
- Accounts payable subsidiary ledger
- Bankcard fee
- Cost of merchandise
- Debit memorandum
- Discount period
- Due date
- FOB destination
- FOB shipping point
- Packing slip
- Premium
- Processing stamp
- Purchase order
- Purchase requisition
- Purchases account
- Purchases allowances
- Purchases discount
- Purchases return
- Tickler file