| A | B |
|---|
| Customer | A person or business to which merchandise or services are sold |
| Sales journal | A special journal used only to record sales of merchandise on account |
| Sales on account | A sale for which cash will be received at a later date |
| Sales tax | A tax on a sale of merchandise or service. |
| Wholesale | Selling merchandise to retailers |
| Retail | Selling merchandise to the final use |
| Cash sales | A sale in which cash is received for the total amount of the sale at the time of the transaction |
| Sales discounts | A cash discount on sales taken by a customer |
| Cash receipts journal | A special journal used only to record cash receipt transactions |
| 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 about a sales transaction |
| Batch report | The process of preparing a batch report of credit card sales from a point-of sale terminal |
| Batching out | The process of preparing a batch report of credit card sales from a point-of sale terminal |
| Terminal summary | The report that summarizes the cash and credit card sales of a point-of-sale terminal |
| Sales return | Credit allowed a customer to return the sales price of returned merchandise |
| Sales allowance | Credit allowed a customer for part of the sales price of merchandise that is not returned |
| Credit memorandum | Source document listing the details of a sales return or allowance |
