Chapter 10

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

• Sales Journal

• Point of Sale (POS) terminal

• Terminal Summary

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

• Point of Sale (POS) terminal

• Cash Receipts Journal

• Terminal Summary

A special journal used to record only cash receipt transactions.

• Sales Journal

• Cash Receipts Journal

• Accounts Receivable Ledger

A cash discount on a sale taken by the customer.

• Cash Sale

•  Selling Price

• Sales Discount

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

• Cash Sale

• Sales Discount

• Selling Price

Subsidiary ledger containing all accounts for charge customers.

• Sales Journal

•  Accounts Receivable Ledger

•  Cash Receipts Journal

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

• Cash Receipts Journal

• Sales Journal

• Accounts Receivable Ledger

A tax on a sale of merchandise or services.

• Selling Price

• Sales Discount

• Sales Tax

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

• Cash Sale

• Sales Discount

• Selling Price