Accounting II - Chapter 10 Test Review

A specialized computer used to collect, store, and report all the information about a sales transaction.

• Point-of-sale terminal

• Batch report

A subsidiary ledger containing all accounts for charge customers.

• Accounts receivable ledger

• Accounts payable ledger

A report that summarizes the cash and credit card sales of a point-of-sale terminal.

• Terminal summary

• Batch report

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

• Cash receipts journal

• Sales journal

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

• Batching out

• Cash sale

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

• Cash sale

• Sale on account

A special journal used to record only cash receipt transactions.

• Cash payments journal

• Cash receipts journal

A cash discount on a sale taken by a customer.

• Purchases discount

• Sales discount

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

• Schedule of accounts payable

• Schedule of accounts receivable

A tax on a sale of merchandise or services.

• Sales tax

• Income tax