Advanced Accounting test bank with complete solutions graded A+

Advanced Accounting test bank with complete solutions graded A+ accounts receivable subsidiary ledger - answerA separate ledger that contains accounts for all charge customers; it is summarized in the Accounts Receivable controlling account in the general ledger. cash discount - answerprice reduction given to buyers for prompt payment or cash payment cash receipt - answerAmount of money that is present in the cash register drawer at the end of the day minus the starting bank cash sale - answerA sale in which cash is received for the total amount of the sale at the time of the transaction charge customer - answercutomer whom a sale on account is made contra account - answeran account that reduces a related account on a financial statement