Acct Ch 10 11e - Sales and Cash Receipts Journals

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

• selling price
• markup
• sales discount
• purchase discount
• sales tax

The amount a business adds to the cost of merchandise to arrive at the selling price

• selling price
• markup
• sales discount
• purchase discount
• sales tax

A tax on a sale of merchandise or services

• selling price
• markup
• sales discount
• purchase discount
• sales tax

A cash discount on a sale taken by the customer

• selling price
• markup
• sales discount
• cash sale
• sales tax

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

• selling price
• markup
• sales discount
• cash sale
• sales on account

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

• cash receipts journal

• purchases journal

• schedule of accounts receivable

• cash payments journal

• sales journal

A special journal used to record only transactions where the business received cash

• cash receipts journal

• purchases journal

• schedule of accounts receivable

• cash payments journal

• sales journal

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

• cash receipts journal

• purchases journal

• schedule of accounts receivable

• cash payments journal

• sales journal

A subsidiary ledger containing all accounts for customers on account

• schedule of accounts receivable
• schedule of accounts payable
• general ledger
• accounts receivable ledger
• accounts payable ledger

A listing of customer accounts, account balances, and total amount due from all customers

• schedule of accounts receivable
• schedule of accounts payable
• general ledger
• accounts receivable ledger
• accounts payable ledger