Save
Busy. Please wait.
or

show password
Forgot Password?

Don't have an account?  Sign up 
or

Username is available taken
show password

why


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account.
We do not share your email address with others. It is only used to allow you to reset your password. For details read our Privacy Policy and Terms of Service.


Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't know
Remaining cards (0)
Know
0:00
share
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

Accounting Ch 10

Sales Journal, Cash Receipts Journal

QuestionAnswer
Credit memorandum a form prepared by the vendor showing the amount deducted for returns and allowances.
Sales journal a special journal used to record only sales of merchandise on account.
Sales tax a tax on a sale of merchandise or services.
Point-of-sale (POS) terminal a computer used to collect, store, and report all the information of a sales transaction.
Terminal summary the report that summarizes the cash and credit card sales of a point-of-sale terminal.
Batch report a report of credit card sales produced by a point-of-sale terminal.
Batching out the process of preparing a batch report of credit card sales from a point-of-sale terminal.
Cash receipts journal a special journal used to record only cash receipt transactions.
Sales discount a cash discount on sales.
Sales return credit allowed a customer for the sales price of returned merchandise
Sales allowance credit allowed a customer for part of the sales price of merchandise that is not returned
Credit memorandum a form prepared by the vendor showing the amount deducted for returns and allowances.
Realization of Revenue When revenue is recorded at the time goods or services are sold, not necessarily when cash is received.
Objective Evidence When an invoice is used as a source document
Time of Sale An increase in revenue resulting from a sale on account should be recorded at the ____.
Liability The amount of sales tax a business collects is a ____.
Credit When a customer is granted credit for merchandise returned, Accounts Receivable is a __________,
Debit Because Sales Discount is a contra account to Sales, it has a normal _________ balance.
Contra Sales Retruns and Allowance is a _______ revenue account to Sales.
Created by: julieoelschlager
 

 



Voices

Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!

"Know" box contains:
Time elapsed:
Retries:
restart all cards