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Friday, November 16, 2007

Chapter 11 outline

Journalizing Sales and Cash Receipts

customer- a person or business to whom merchandise or services are sold.

sales tax- a tax on a sale of merchandise or service.

sales tax has a normal balance of a credit.

cash sale- sale in which cash is received for the total amount of the sale at the time of the transaction.

credit card sale- sale in which a credit card is used for the total amount of the sale at the time of the transaction.

1 comment:

Princess Girl said...

Did u understand chapter 11 the journalizing cash and credit card sales. u understand the merchandise

What is accounting to you

My obsessions

I am a automotive freak! Anything that goes really fast and looks shinny... im hooked. Hopfully accounting will teach me how to budget and keep up with my money so one day I will be able to afford one of my dreams.

My other favoite thing in the world

My other favoite thing in the world