Accounting Chapter 10

Front

The amount a business receives from the sale of an item of merchandise

Back

Selling price

Front

The amount a business adds to the cost of merchandise to establish the selling price.

Back

Markup

Front

A subsidiary ledger containing all accounts for charge customers

Back

A/R Ledger

Front

A tax on the sale of merchandise or services

Back

Sales tax

Front

A special journal used to record only sales of merchandise on account

Back

Sales

Front

A sale in which the customer pays for the total amount of the sale at the time of the transaction

Back

Cash Sale

Front

A special computer used to collect, store, and report all information about a sales transaction

Back

Point of Sale Terminal

Front

The report that summarizes the cash and credit card sales of a point of sale terminal

Back

Terminal Summary

Front

A report of credit card sales produced by a point of sale terminal

Back

Batch Report

Front

The process of preparing a batch report from a point of sale terminal

Back

Batching Out