Chapter 10 Review

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

• Cash Payment Journal

• Sales Journal

• Purchases Journal

• Cash Receipts Journal

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

• Sales journal

• Schedule of accounts payable

• General ledger

• Schedule of accounts receivable

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

• POS terminal

• Terminal summary

• Batching out

• Selling price

A cash discount on a sale taken by the customer.

• Cash discount

• Selling price

• Sales discount

• Cash sale

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

• Batching out

• Batch report

• Selling price

• Cash sale

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

• List price

• Selling price

• Sales tax

• Markup

A special journal used to record only cash receipt transactions.

• Sales journal

• Cash receipts journal

• Purchase journal

• General journal

A tax on a sale of merchandise or services.

• Selling price

• Sales tax

• Accounts Receivable Ledger

• Price tax

A subsidiary ledger containing all accounts for charge customers.

• Accounts Receivable Ledger

• General Ledger

• Accounts Payable Ledger

• Sales Ledger

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

• Sales tax

• Sales discount

• Selling price

• Cash sale