Accounting and Finance Foundations

Unit 5

Accounting and Finance Foundations Unit 5: Accounting Terminology 418

Accounting Terminology

Invoice: A form describing the goods or services sold, the quantity, and the price. When a service is sold

on account, the seller prepares a form showing information about the sale. An invoice used as a source

document for recording a sale on account is called a sales invoice. A sales invoice is prepared in duplicate.

The original is given to the customer. Sales invoices are pre-numbered in sequence to help account for all

sales invoices.

Chapter 15

Student Guide

The Coffee Roasting Company

Sales Invoice 987 Campus Lane No: 95416

Corvallis, OR 97331

Bill To: MonCaf

Montreux Cafe

500 Perdue Avenue

Portland, OR 97201

Corresponding Documents

Sales

Order

Number

Shipment

Number

for SO

Bill of

Lading

Number

404 1 405

Date of Invoice 14-Apr-12

Coffee Mix Name Mix

Code

Mix

Type

Quantity

Sold

Price per

Pound

Extended

Price

Columbian Dark CD-3 Reg 400 $6.10 $2,440.00

House Special HS-3 Decaf 350 $7.40 $2,590.00

Vienna Roast VR-3 Reg 450 $6.40 $2,880.00

SubTotals 1,200 $7,910.00

Freight: $395.50

Total Payment $8,305.50

Lesson 15.1 Source Documents (cont’d)