1. Match the items below by entering the appropriate code letter in the space provided. A. Net sales F. Contra revenue B. Sales discount G. Freight-out C. Credit terms H. Gross profit D. Periodic inventory system I. Sales invoice E. Gross profit rate J. Purchase discount 1. A reduction given by the seller for prompt payment of a credit sale. 2. Provides support for a credit sale. 3. Gross profit divided by net sales. 4. Sales less sales returns and allowances and sales discounts. 5. Specifies the amount of cash discount and time period during which it is offered. 6. Net sales less cost of goods sold. 7. Freight cost to deliver goods to customers reported as an operating expense. 8. Requires a physical count of goods on hand to compute cost of goods sold. 9. A cash discount claimed by a buyer for prompt payment of a balance due. 10. An account that is offset against a revenue account on the income statement