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chapter10_SA
| 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 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
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