CDE8.

Fill in the blanks with the correct terms from the list below:

cash receipts journal sales journal sales returns and allowances subsidiary ledger cost of goods sold credit period sales discount gross profit perpetual inventory system accounts receivable subsidiary ledger Questions, Classroom Demonstration E... 1. The difference between sales and cost of goods sold is called 2. The is the time period that can pass before a customer's payment is due. 3. The journal that is used to record only sales made on account is the 4. A(n) is a ledger that contains accounts of a single type. 5. A(n) is a cash discount granted to customers for payments made within a specific period of time. 6. When an inventory system keeps a continuous Questions, Classroom Demonstration E... system is called the 7. The special joumal that records all transactions involving the receipt of cash from any source is the 8. The account is the contraaccount that records price adjustments and allowances granted on merchandise. 9. represents the total cost of merchandise that is sold. 10. A(n) is a book or file that contains the individual records of amounts owed by various credit customers