Accounting Chp 10 terms

. The amount a business receives from the sale of an item of merchandise. (p. 284)

selling price

2. The amount a business adds to the cost of merchandise to arrive at the selling price. (p. 284)

markup

3. A subsidiary ledger containing all accounts for charge customers. (p. 284)

accounts receivable ledger

4. A tax on a sale of merchandise or services. (p. 286)

sales tax

5. A special journal used to record only sales of merchandise on account. (p. 287)

sales journal

6. A sale in which the customer pays for the total amount of the sale at the time of the transaction. (p. 294)

cash sale

7. A specialized computer used to collect, store, and report all the information about a sales transaction. (p. 294)

point-of-sale (POS) terminal

8. The report that summarizes the cash and credit card sales of a point-of-sale terminal. (p. 294)

terminal summary

9. A report of credit card sales produced by a point-of-sale terminal. (p. 295)

batch report

10. The process of preparing a batch report from a point-of-sale terminal. (p. 295)

batching out

11. A special journal used to record only cash receipt transactions. (p. 296)

cash receipts journal

12. A cash discount on a sale taken by the customer. (p. 296)

sales discount

13. A listing of customer accounts, account balances, and total amount due from all customers. (p. 308)

schedule of accounts receivable