Create an account
a sale in which cash is recived for the total amount of the sale at the time of transaction
a sale in which a credit card is used for the total amount of sale at the time of the transaction
a computer used to collect, store, and report all the information of sales transaction
the report that summarizes the cash and credit card sales from a point-of-sale terminal
the process of perparing a batch report of credit card sales from a point-of-sale terminal
credit allowed a customer for the sales price of merchandise, resulting in a decrease on the vendor's accounts receivable
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
a form prepared by the vendor showing teh amount deducted for returns and allowances
the realization of revenue accountng concept is applied when a sale is recorded at the time the sale is made
a credit card sale is a sale in which cash is recived for the total amount of the sale at the time of the transaction
a cash sale is a sale in which a credit card is used for teh total amount of the sale at the time of transaction
at the end of the week, all credit card slips are gathered together, sorted by issuing bank, and mailed indicidually to to each of the banks to collect payment
all cash receipts, including cash sales and credit card sales, are reorded in the cash receipts journal
for cash and credit card slaes, the asset accout Cash is debited for the total of slaes and sales tax, but the revenue account sales is credited only for the total of slaes
when cash is received on account, the cash account balance increasess and teh accounts receivable account balance increases
when a sales discount is taken a customer pays less cash than the incoive amount pericously recorded in the in the sales account
maintaning a separate account for sales discounts provides business managers with informaton to evaluate whether a slaes discount is a cost effective method
if a cusomer dose not pay the amount owed within the sales discount period, the full invoice amount is due.
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