overall mid terms-

contra entry

contra entry

A(n) ________ is when cash is taken from the bank for business use.

Discount

________ allowed is the allowance given to a customer when an account is settled within a given time frame ((it encourages loyalty and buying in bulk)

cashbook

The ________ is a book where sales and purchases are recorded.

Books of original entry

________ are where all transactions are recorded before being put into the ledger.

debit note

On the credit and ________ there is the credit and debit number, name and address of supplier and customer, date on which transactions took place, quantity and description of goods, amount of goods being return, trade discount given, reason for returning goods.

cash book

A(n) ________ is balanced to calculate total cash received, total cash paid out, total cheques received, total cheques paid out and total amount remaining.