0.... The account in which returns of merchandise sold are recorded ...........

1.... The principal ledger that contains all of the balance sheet and income statement accounts is called the ............................................................

2.... Each subsidiary ledger is represented by a summarizing account in the general ledger called a(n) .................................................................

3.... The accounts in the accounts payable ledger have a normal balance of (debit or credit) .......................................................................................

4.... The bill that the seller sends to the buyer listing the terms of the sale is called a(n) ...............................................................................................

5.... A return of $2,000 has been recorded on a sales invoice for $9,000, terms 1/10, n/30, which is paid within the discount period. The amount of the discount is .....................................................................................

6.... The title of the account in which the transportation costs are recorded by the purchaser is .................................................................................

7.... If the seller is to pay the cost of delivery of the goods, the terms of sale are stated as FOB ...........................................................................

8.... The difference between sales and cost of merchandise sold is called ...

9.... If ownership (title) to merchandise passes to the buyer when merchandise is shipped to the buyer, the shipping terms are ................

10.... The inventory system where both sales and cost of merchandise sold are recorded for each item sold is called the ..........................................

11.... The merchandise accounting system in which the cost of the merchandise sold is determined at the end of the accounting period is called the ................................................................................................

12.... If the buyer incurs the cost of delivery of the goods, the terms of sale are stated as FOB ..................................................................................

13.... If the amount of cash overages for a period exceeds the amount of cash shortages, the balance in the account Cash Short or Over will be a (answer debit or credit) ...........................................................................

14.... If the account Cash Short or Over has a debit balance at the end of the period, the balance would be reported on the income statement as (answer expense or income) ..................................................................

15.... Procedures designed to identify theft or misuse of cash are called .......

16.... Vouchers are ordinarily filed in the unpaid voucher file in order of .........

17-18There are four categories of reconciling items in a bank reconciliation: (1) additions to and (2) deductions from balance per bank statement; and (3) additions to and (4) deductions from balance per depositors books. The two categories that provide data for the entries based on the reconciliation are (indicate by number):