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Match the following terms with the appropriate definition. (a) Credit memorandum (f) Discount period (b)...

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Accounting

Match the following terms with the appropriate definition. (a) Credit memorandum (f) Discount period (b) Trade discount (g) Debit memorandum (c) Credit period (h) Periodic inventory system (d) Credit terms (i) Perpetual inventory system (e) EOM (j) Purchase discount ____ (1) A method of accounting that maintains continuous records of the amount of inventory on hand and cost of goods sold. ____ (2) The time period in which a cash discount is available. ____ (3) A notification that the sender has entered a credit in the recipient's account maintained by the sender. ____ (4) The description of the amounts and timing of payments that a buyer agrees to make in the future. ____ (5) A cash discount the buyer receives which is included with the terms of the sale agreement. ____ (6) The time period that can pass before a customer's payment is due.

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