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chapter10_SA

QuestionAnswer
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 merchadise on account
cash sale a sale in which cash is receiced for the total amount of the sale a the time of transaction
credit card sale a sale in which a credit cars is used for the total amount of the sale at the time of the transaction
point of sale (POS) a computer used to collect sore and report all the info of a sales transaction
terminal summary the report that sumarizes the cash and credit card sales of a point of sale
batch report a reportof creditcard sales produced by a point of sale
batching out the process of preparing a batch report of crdie 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 crdit allowed a customer for the sales price of returned mechandise resulitng in a decrease in the vendors account receivable
sales allowance credit allowed a customer for part of sales price of merchandise that is no returned resulint in a decrease in the vendors act. receivable
credit memorandum a from prepared by the vendor showing the amount deducted for returns and allowances
Created by: ash.s