For each of the definitions, unite the letter of the appropriate term, in the space provided.

1 A business that purchases and resells goods.
2 Transactions in which merchandise is purchased or goods or services are bought for payment at a later date.
3 An account used to record the cost of the merchandise that has been sold to customers.
4 An account that shows the value of the merchandise on hand.
5 A term used to describe goods that are purchased for resale.
6 Reports that list all journal activity' by vendor or customer.
7 Businesses from which merchandise is purchased or supplies and other assets are bought.
8 Businesses or individuals to whom merchandise or services are sold.
9 The journal used for entering purchases on account transactions.
10 The journal used to enter all cash paid for expenses, cash purchases, payments to vendors, and payments not involving a check.
11 The journal used to enter all sales on account transactions.
12 The journal used to enter debit and credit memorandums.
13 The journal used to enter all cash received on account, for cash sales, for sale of an asset, or for money borrowed.
14 Reports that show the current balance for each vendor or customer.

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a. merchandise i. purchases journal b. merchandise inventory account j. cash payments journal C. cost of merchandise sold account k. sales journal d. vendors 1. cash receipts journal e. customers f. general journal g. merchandising business h. purchases on account m. schedule of accounts payable and schedule of accounts receivable n. accounts payable and accounts receivable ledger reports