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

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

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

A special journal used to record only cash receipt transactions

A cash discount on a sale taken by the customer

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

A subsidiary ledger containing all accounts for a charge customers

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

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

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

A tax on a sale of merchandise or services

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

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

A batch report is a detailed report of cash sales during a specific periof od time.

Sales Tax Payable has a normal credit balance

Only the federal government can exempt from slaes taxes dsome types of merchandise or sales to certqin types of customers

Regarless of when payment is received, the revenue should be recorded when a sale is made, not on the date cash is received.

The amount of sales tax collected is a biability of a business until paid to the government.

The total of each general amount column of a cash receipts journal is posted to the corresponding general ledger account.

The total amount of creidt card and debit card sales transactions are recordes as a deibt to cash, since the busines will receive cash for the tentire amount.

A terminal summary is also known as a Z tape

Separate transactions are recorded fro cash, creidt card, and debit card totals listed on a terminal summary.

The balance of Accounts Receivale should ewqual the total of the schedule of accounts receivable.

When merchandise is sold on account and sales tax is also collected,

Marris Company records a $1,000 sale on acocunt on May 23. On June 6, the customers pay the account. The sale should be recorded in the

For a sale on account of $1,000 plus sales tax of $80, the amount recorded in the AR amount coumn of a sales journal is

The amount of sales tax on a sale is calculated as the price of goods

A business should post sales on account transactions to the accounts receivable subsidiary ledger frequently to

The amount of cahs received fro a sale on account of $1080 when the cash is received within the 2% discount period is

Most businessess receive cash for creidt and debit card sales

Credit terms of 2/10, n/30 mean that if the account is paid in