OURCES FULL SCREEN PRINTER VERSION Exercise 5-2 The following are some of the terms discussed in the chapter Match each term with the best description below. Each term may be used more than once, or may not be used at all. by Study (a) An expense account that shows the cost of merchandise sold (b) A group of accounts that share a common characteristic, such as all inventory accounts (c) An account, such as Sales Discounts, that is deducted from a revenue account on the income statement (d) The return of unsatisfactory purchased merchandise (e) Freight terms where the seller will pay for the cost of shipping the goods (1) An inventory system where a physical inventory count is required to determine inventory on hand and establish cost of goods sold (a) A reduction in price given to a customer for unsatisfactory inventory (h) Sales revenue less cost of goods sold () Revenues, expenses, gains, and losses that are not part of the company's main operations (1) Freight terms where the buyer will pay for the cost of shipping the goods (k) An Inventory system where the cost of goods sold is calculated and recorded with every sales transaction () An asset that shows the cost of goods purchased for resale Wie, PLUS edugen.wileyplus.com Gmail YouTube Mags > New Tab k-mm-es Inbox (1783-20231. muy wayg:, , Read, Study Practice Assignment Gradebook ORION Downloadable Textbook moment > Open Assignment F GNMENT RESOURCES ters exercise Sa oblem 5-4 blem - roblem 5-10A oblem 5.13A hew Score ew Results by Study (a) An expense account that shows the cost of merchandise sold (b) A group of accounts that share a common characteristic, such as all inventory accounts (c) An account, such as Sales Discounts, that is deducted from a revenge account on the income statement (d) The return of unsatisfactory purchased merchandise (e) Freight terms where the seller will pay for the cost of shipping the goods (1) An inventory system where a physical Inventory count is required to determine inventory on hand and establish cost of goods sold (9) A reduction in price given to a customer for unsatisfactory inventory Ch) Sales revenue less cost of goods sold (1) Revenues, expenses, gains, and losses that are not part of the company's main operations 0 Freight terms where the buyer will pay for the cost of shipping the goods (k) An Inventory system where the cost of goods sold is calculated and recorded with every sales transaction (1) An asset that shows the cost of goods purchased for resale (m) Profit divided by net sales (n) A price reduction given by a seller for early payment on a credit sale LINK TO TEXT Type here to search O PRINCIPLES OF ACCOUKULINGANACCI TTT) 4 LACK PRINTER VERSION NEXT FULL SCREEN come statement ry on hand and establish cost of goods sold Cost of Goods Sold Contra Revenue Account Freight Out FOB Shipping Point FOB Destination Gross Profit Merchandise Inventory Non-operating Activities Perpetual Inventory System Profit Margin Purchase Returns Periodic Inventory System Purchase Discounts Subsidiary Ledger Sales Discounts Sales Allowance sions ery sales transaction ^uad WENG 9:11 PM 2020-10-26