Accounting Chapter 10

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

• Markup
• Accounts Receivable
• Selling price

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

• Markup
• Markdown
• Purchases
• Accounts Receivable

A subsidiary ledger containing all accounts for charge customers

• A/P Ledger
• General Ledger
• A/R Ledger
• Chart of Accounts

A tax on the sale of merchandise or services

• Credit
• Sales tax
• Sales discount
• Debit

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

• Purchases
• Cash Payments
• Sales
• General

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

• Debit Card Sale
• Checking account
• Accounts Receivable
• Cash Sale

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

• Cash register
• Calculator
• Point of Sale Terminal
• Bus Terminal

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

• Terminal Summary
• Terminal Illness
• POS Summary
• Batch Report

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

• Batching Out
• Batch Summary
• Batch Report
• Batch of Cookies

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

• Deposit
• Batching Out
• Batching Report
• Terminal Batch