term1 Definition1term2 Definition2term3 Definition3
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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 merchandise on account.
Cash sale
A sale in which cash is received for the total amount of the sale at the 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 summarizes the cash and credit card sales of a point-of-sales 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.
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