Vocabulary Chapter 14

A business that sells to the final user, the consumer. 

• Realtor

• Marketer

• Retailor

• Merchandiser

A business that sells to retailers.

• Retailer

• Marketer

• Wholesaler

• Merchandiser

Goods bought to resell to customers.

• Product

• Merchandise

• Stock

• Inventory

The items of merchandise a business has in stock. 

• Product

• Merchandise

• Stock

• Inventory

A revenue account to record the amount of merchandise sold. 

• Sales Return

• Sales Slip

• Sales

• Sales on Account

The sale of merchandise that will be paid for at a later date. 

• Sales Return

• Sales Slip

• Sales

• Sales on Account

A form that lists the details of a sale. 

• Sales Return

• Sales Slip

• Sales

• Sales on Account

Any merchandise returned for a credit or a cash refund. 

• Sales Return

• Sales Slip

• Sales

• Sales on Account

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

• Sales Terms

• Credit Terms

• Debit Terms

• Bank Terms

The cash received by a business in a single transaction. 

• Cash Receipt

• Receipt

• Credit Receipt

• Monetary Receipt