accounting - chapter 10 vocab - Accounting Period 4 Chapter 10 Vocab Customer A person or business to whom merchandise or services are sold Sales tax A

accounting - chapter 10 vocab - Accounting Period 4 Chapter...

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Accounting Period 4 Chapter 10 Vocab Customer A person or business to whom merchandise or services are sold. Sales tax A tax on a sale of merchandise or services. Sales journal A special journal used to record only sales of merchandise on account. Cash sale A sale in which cash is received for the total amount of the sale at the time of the transaction. Credit card sale A sale in which a credit card is used for the total amount of the sale at the time of the transaction. Point-of-sale (POS) terminal A computer used to collect, store, and report all the information of a sales transaction. Terminal summary The report that summarizes the cash and credit card sales of a point-of-sale terminal. Batch report A report of credit card sales produced by a point-of-sale terminal.

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