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14 Cards in this Set
- Front
- Back
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customer
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a person or business to whom merchandise or services are sold
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sales tax
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tax on a sale of merchandise or services
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sales journal
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a special journal used to record only sales of merchandise on account
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cash sale
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a sale in which cash is received for the total amount of the sale at the time of the transaction
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credit card sale
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a sale in which a credit card is used for the total amount of the sale at the time of the transaction
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point-of-sale (POS)
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computer used to collect
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terminal summary
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th report that summarizes the cash and credit card sales of a point-of-sale terminal
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batch report
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a report of credit card sales produced by a point-of-sale terminal
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batching out
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the process of preparing a batch report of credit card sales from a point-of-sale terminal
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cash receipts journal
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a special journal used to record only cash receipt transactions
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sales dicount
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a cash discount on sales taken by a customer
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sales return
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credit allowed a customer for the sales price of returned merchandise
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sales allowance
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credit allowed a customer for part of the sales price of merchandise that is not returned
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credit memorandum
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a form prepared by the vendor showing the amount deducted for returns and allowances
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