Chapt. 10 accounting

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13 Terms

1

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

selling price
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2

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

markup
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3

A subsidiary ledger containing all accounts for charge customers.

accounts receivable ledger
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4

A tax on a sale of merchandise or services.

sales tax
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5

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

sales journal
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6

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

cash sale
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7

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

point-of-sale (POS) terminal
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8

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

terminal summary
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9

A report of credit card sales produced by a point-of-sale terminal.

batch report
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10

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

batching out
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11

A special journal used to record only cash receipt transactions.

cash receipts journal
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12

A cash discount on a sale taken by the customer.

sales discount
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13

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

schedule of accounts receivable
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