1623716
| Question | Answer |
| ACCOUNTS PAYABLE | MONEY WE OWE CURRENT LIABILITY BALANCE SHEET NB Cr |
| ACCOUNTS RECEIVABLE | MONEY CUSTOMERS OWE ON OUR ACCOUNTS CURRENT ASSET BALANCE SHEET NB Dr |
| ACCUMULATED DEPRECIATION | TOTAL AMOUNT OF DEPRECIATION CONTRA ASSET BALANCE SHEET NB Cr |
| ADVERTISING EXPENSE | COST TO ADVERTISE OPERATING EXPENSE INCOME STATEMENT NB Dr (CLOSES TO INCOME SUMMARY) |
| BUILDINGS | BULIDINGS USED IN OPERATION PLANT ASSET BALANCE SHEET NB Dr |
| CASH | COINS, BILLS, MONEY IN A NONRESTRICTED BANK ACCOUNT CURRENT ASSET BALANCE SHEET NB Dr |
| COPYRIGHT | LEGAL RIGHT INTANGIBLE ASSET BALANCE SHEET NB Dr |
| COST OF GOODS SOLD (COGS) | PRICE OF MERCHANDISE SOLD EXPENSE ACCOUNT INCOME STATEMENT NB Dr (CLOSES WITH EXPENSES) |
| DEPRECIATION EXPENSE | AMOUNT SUBTRACTED YEARLY TO SHOW LOSS IN VAULE OPERATING EXPENSE INCOME STATEMENT NB Dr (CLOSES TO INCOME SUMMARY) |
| EQUIPMENT | MACHINERY USED IN OPERATIONS PLANT ASSET BALANCE SHEET NB Dr |
| FREIGHT-OUT | COST OF SHIPPING TO BUYER OPERATING EXPENSE INCOME STATEMENT NB Dr (CLOSES WITH EXPENSES) |
| INCOME SUMMARY | TEMPORARY ACCOUNT USED IN CLOSING ENTRIES 1. REVENUES INTO IS 2. EXPENSES INTO IS 3. IS TO OWNERS CAPITAL |
| INSURANCE EXPENSE | COST OF INSURANCE OPERATING EXPENSE INCOME STATEMENT NB Dr (CLOSES TO INCOME SUMMARY) |
| INTEREST EXPENSE | OTHER EXPENSE INCOME STATEMENT NB Dr (CLOSES TO INCOME SUMMARY) |
| INTEREST PAYABLE | CURRENT LIABILITY BALANCE SHEET NB Cr |
| INTEREST REVENUE | OTHER INCOME INCOME STATEMENT NB Cr (CLOSED TO INCOME SUMMARY) |
| INVENTORY | INTENT TO SELL CURRENT ASSET BALANCE SHEET NB Dr |
| LAND | PROPERTY USED IN OPERATIONS PLANT ASSET BALANCE SHEET NB Dr |
| MAINTENANCE AND REPAIRS EXPENSE | COST FOR UPKEEP OPERATING EXPENSE INCOME STATEMENT NB Dr (CLOSED TO INCOME SUMMARY) |
| NOTES PAYABLE | CURRENT LIABILITY (IF OWED WITHIN 1 YEAR) LONG-TERM LIABILITY (IF OWED OVER 1 YEAR) BALANCE SHEET NB Cr |
| OWNER'S CAPITAL | INVESTMENTS BY OWNER OWNER'S EQUITY OWNER'S EQUITY/BALANCE SHEET NB Cr |
| OWNER'S DRAWING | WITHDRAW BY OWNER TEMPORARY CLOSED TO OWNER'S CAPITAL OWNER'S EQUITY NB Dr (CLOSED TO OWNER'S CAPITAL) |
| SALARIES AND WAGES PAYABLE | SALARIES OWED TO EMPLOYEES CURRENT LIABILITY BALANCE SHEET NB Cr |
| SALARIES AND WAGES EXPENSE | WAGES PAID OPERATING EXPENSE INCOME STATMENT NB Dr (CLOSED TO INCOME SUMMARY) |
| SALES DISCOUNTS | REDUCTION GIVEN BY SELLER FOR PROMPT PAYMENT OF A CREDIT SALE CONTRA REVENUE INCOME STATEMENT NB Dr (CLOSES WITH EXPENSES) |
| SALES RETURNS AND ALLOWANCES | "PURCHASE RETURNS AND ALLOWANCES" FROM SELLERS PERSPECTIVE CONTRA REVENUE INCOME STATEMENT NB Dr (CLOSES WITH EXPENSES) |
| SALES REVENUE | PRIMARY SOURCE OF REVENUE IN A MERCHANDISING COMPANY REVENUE INCOME STATEMENT NB Cr (CLOSED TO INCOME SUMMARY) |
| SERVICE REVENUE | MAIN SOURCE OF REVENUE FOR A SERVICE COMPANY REVENUE INCOME STATEMENT NB Cr (CLOSES TO INCOME SUMMARY) |
| SUPPLIES | MATERIAL ON HAND NOT FOR SALE CURRENT ASSET BALANCE SHEET NB Dr |
| SUPPLIES EXPENSE | COST TO OBTAIN SUPPLIES OPERATING EXPENSE INCOME STATEMENT NB Dr (CLOSES TO INCOME SUMMARY) |
| UNEARNED SERVICE REVENUE | MONEY YOU HAVE RECEIVED BUT HAVE NOT EARNED CURRENT LIABILITY BALANCE SHEET NB Cr THIS ACCOUNT IS NOT CLOSED!!!!!!!!! |
| ALLOWANCE FOR DOUBTFUL ACCOUNTS | Estimated amount of uncollectible Accounts Receivable. Contra-Asset (to the receivable) Balance Sheet NB Cr |
| BAD DEBT EXPENSE | Used to write off debt. Operating Expense Income statement NB Dr |
| NOTES RECIEVABLE | Claims for which formal instruments of credit are issued as proof of the debt. Stronger legal claim on the money you are owed Asset Balance Sheet NB Dr |
| TRADE RECEIVABLES | Notes and accounts receivable that result from sales transactions |
| OTHER RECEIVABLES | Various forms of NONTRADE receivables such as interest receivable and income taxes refundable |
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