130. Match the following terms with the appropriate definition. 1. The expenses of promoting sales, by displaying and advertising merchandise, making sales and delivering goods to customers Credit terms 2. An accounting method that continually updates accounting records for merchandise transactions Gross profit 3. An accounting method that updates the accounting records for merchandise transactions only at the end of a period Credit period 4. Net sales less cost of goods sold Perpetual inventory system 5. A notification that the sender has credited the recipient's account kept by the sender Debit memorandum 6. The time period in which a cash discount is available and a reduced payment can be made by the buyer Sales discount 7. The amount of time allowed before full payment is due Selling expenses 8. The description of the amounts and timing of payments from a buyer to a seller Periodic inventory system 9. A cash discount granted to customers for paying within the discount period Discount period 10. A notification that the sender has debited the recipient's account kept by the sender Credit memorandum

130. Match the following terms with the appropriate definition. 1. The expenses of promoting sales, by displaying and advertising merchandise, making sales and delivering goods to customers ...

130. Match the following terms with the appropriate definition.

1. The expenses of promoting sales, by displaying and advertising merchandise, making sales and delivering goods to customers	Credit terms
2. An accounting method that continually updates accounting records for merchandise transactions	Gross profit
3. An accounting method that updates the accounting records for merchandise transactions only at the end of a period	Credit period
4. Net sales less cost of goods sold	Perpetual inventory system
5. A notification that the sender has credited the recipient's account kept by the sender	Debit memorandum
6. The time period in which a cash discount is available and a reduced payment can be made by the buyer	Sales discount
7. The amount of time allowed before full payment is due	Selling expenses
8. The description of the amounts and timing of payments from a buyer to a seller	Periodic inventory system
9. A cash discount granted to customers for paying within the discount period	Discount period
10. A notification that the sender has debited the recipient's account kept by the sender	Credit memorandum

May 15, 2022