A form describing the goods or services sold, the quantity, the price, and the terms of sale sales invoice An invoice used as a source document for recording a sale on account receipt A business form giving written acknowledgement for cash received memorandum

A form describing the goods or services sold, the quantity, the price, and the terms of sale

sales invoice

An invoice used as a source document for recording a sale on account

receipt

A business form giving written acknowledgement for cash received

memorandum

A form on which a brief message is written to describe a transaction

proving cash

determining that the amount of cash agrees with the accounting records

special amount column

a journal amount column headed with an account title

general amount column

a journal amount column without an account title

objective evidence concept

applied when a source document is prepared for each transaction

entry consist of four parts:

date, debit, credit, and source document

selling price

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

markup

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

accounts receivable ledger

A subsidiary ledger containing all accounts for charge customers.

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 the customer pays for the total amount of the sale at the time of the transaction

sales discount

A cash discount on a sale taken by the customer.

point-of-sale (POS) terminal

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

terminal summary

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

schedule of accounts receivable

 

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