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Acctg I - Ch 11
Maplewood Rice Acctg Vocab Ch 11
| Question | Answer |
|---|---|
| A person or business to whom merchandise or services are sold | customer |
| A tax on the sale of merchandise or services | sales tax |
| A sale for which cash is received, in full, at the time of the transaction | cash sale |
| A sale in which a credit card is used at the time of the transaction | credit card sale |
| A sale for which cash will be received at a later date | sale on account |
| Source document prepared when cash is received on account | receipt |