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Accounting Chapter 10 Vocab

Terms in this set (14)

a report of credit card sales produced by a point-of-scale terminal
batch report
the process of preparing a batch report of credit card sales from a point-of-sale terminal
batching out
a special journal used to record only cash receipt transactions
cash receipt journal
a sale in which cash is received for the total amount of the sale at the time of the transaction
cash sale
a sale in which a credit card is used for the total amount of the sale at the time of the tranaction
credit card sale
a form prepared by the vendor showing the amount deducted for returns and allowances
credit memorandum
a person or business to whom merchandise or services are sold
customer
a computer used to collect, store, and report all the information of a sales transaction
point-of-sale (POS) terminal
credit allowed to a customer for part of the sales price of merchandise that is not returned, resulting in a decrease in the vendor's accounts receivable
sales allowance
a cash discount on sales taken by a customer
sales discount
a special journal used to record only sales of merchandise on account
sales journal
credit allowed to a customer for the sales price of returned merchandise, resulting in a decrease in the vendor's accounts receivable
sales return
a tax on a sale of merchandise or services
sales tax
the report that summarizes the cash and credit card sales of a point-of-sale terminal
terminal summary
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