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16 Cards in this Set
- Front
- Back
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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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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 a sales transaction.
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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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Customer
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A person or business to whom merchandise or services are sold.
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Point-of-Sale (POS) Terminal
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A computer used to collect, store, and report all the information of a sales transaction.
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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, resulting in a decrease in the vendor's accounts receivable.
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Sales Discount
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A cash discount on sales taken by a customer.
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Sales Journal
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A special journal used to record only sale sof merchandise on account.
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Sales Return
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Credit allowed a customer for the sales price of returned merchandise, resulting in a decrease in the vendor's accounts receivable.
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Sales Tax
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A tax on a sale of merchandise or services.
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Terminal Summary
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The report that summarizes the cash and credit card sales of a point-of-sale terminal.
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Accounts Payable Ledger |
A subsidiary ledger containing only accounts forvendors from whom merchandise or other items are purchased on account. |
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Accounts Receivable Ledger
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A subsidiaryledger containing only accounts for charge customers.
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Schedule of Accounts Payable
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A listing ofvendor accounts, account balances, and total amount due all vendors.
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Schedule of Accounts Receivable
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A listing of customer accounts, account balances, and total amount due from all customers.
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