Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
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
Normal Size Small Size show me how
Chapter 10
Accounting chapter 10
| Question | Answer |
|---|---|
| Customer | A person or business to whom merchandise or services are sold. |
| Sales Tax | A tax on a sale of merchandise or services. |
| Sales Journal | A special journal used to record only sales of merchandise on account. |
| Cash Sale | A sale in which cash is received for the total amount of the sale at the time of the transaction. |
| Credit Card Sale | A sale in which a credit card is used for the total amount of the sale at the time of the transaction. |
| Point of Sale Terminal (POS) | 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 taken by a customer. |
| Sales Return | Credit allowed a customer for the sales price of returned merchandise, resulting in a decrease in the vendor's A/R. |
| Sales Allowance | Credit allowed a customer for part of the sales price of merchandise that is not returned, resulting in a decrease in the vendor's A/R. |
| Credit Memorandum | A form prepared by the vendor showing the amount deducted from returns and allowances. |
Created by:
lbeddow
Popular Accounting sets