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Related Flashcards
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Cards In This Set
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The amount a business receives from the sale of an item of merchandise.
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Selling Price
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The amount a business adds to the cost of merchandise to arrive at the selling price.
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Markup
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A subsidiary ledger containing all accounts for charge customers.
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Accounts Receivable Ledger
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A tax on sale of merchandise or services.
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Sales Tax
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A special journal used to record only sales of merchandise on account.
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Sales Journal
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A sale in which the customer pays for the total amount of the sale at the time of the transaction.
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Cash Sale
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A specialized computer used to collect, store, and report all the information about a sales transaction.
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Point-of-Sale terminal (P.O.S)
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The report that summarizes the cash and credit card sales of a Point-of-Sale terminal.
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Terminal Summary
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A report of credit card sales produced by a Point-of-Sale terminal.
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Batch Report
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The process of preparing a batch report from a Point-of-Sale terminal.
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Batching Out
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A special journal used to record only cash receipt transactions.
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Cash Receipts Journal
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A cash discount on a sale taken by the customer.
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Sales Discount
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A listing of customer accounts, account balances, and total amount due from all customers.
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Schedule of Accounts Receivable
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