ACC $201$: Accounting Terminology E$.$C$.$

Across

$[2]$ makes the cash account go up

$[4]2-$words. the historical cost minus depreciation

$[6]$ right side of the $t-$account

$[9]$ abbr. the oldest units are sold first

$[10]$ account type, examples include AP$,$ notes, or any payable

$[11]$ comparing the bank statement & company's books $[12]$ a new payable created as a result of an accounts payable

$[13]$ the worth of your company

$[16]2-$words. money used to make small purchases $[17]$ liability lasting more than $1-$year

Down

$[1]$ abbr. COGS based on most recent purchases

$[2]$ expensing an asset over its useful life

$[3]$ abbr. expense when customers don't pay accounts payable

$[5]$ a method used to record bad debt expense

$[7]$ a liability that exists only if something else happens first

$[8]$ fill in the blank: direct write$-$off "blank"

$[11]2-$words. the amount you get for an asset when you sell it

$[14]$ abbr. the lower of historical cost or market value $[15]$ account type, examples include cash, AR$,$ inventory, land, patents, etc.