Accounting 110 Chapter 7

Subsidiary Ledger

is a ledger that contains accounts of a single type

Special Journal

is used to record only one type of transaction

Sales Journal

is used to record only sales of merchandise on credit

Service Business

sells a service

Manufacturing Business

sells good that it produces

Retail Business

sells goods and services directly to an individual consumers

Merchandising Business

sells goods that it purchases for resale

Merchandise Inventory

the stock of goods that is kept on hand