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14 Cards in this Set

  • Front
  • Back
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 or merchandise on account
cash sale
a sale in which cash is received for the total amount of the sale at th 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 (POS) terminal
a computer used to collect, store, and report all the information of a sales transaction
terminal summary
the report that summarized 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
sales return
credit allowed a customer for the sales price of returned merchandise, resulting ina decrease in the vendor's accounts receivable
sales allowance
credit allowed a customer for part of the sales price of merchandise that is not returned, resulting ina decrease in the vendor's account receivable
credit memorandum
a form prepared by the vendor showing the amount deducted for returns and allowances