All about chapter 11

Vocab

• Cash Sale- A sale in which cash ia received for the total amount of the sale at the time of the transaction.
• Credit Card Sale- A salein which a credit card is used for the total amount of the sale at the time of the transaction.
• Customer- A person or business to whom merchandise or sevices are sold.
• Sales Tax- A tax on a sale of merchandise or services.

• Sales tax rates are usually stated as a percentage of sales.
  Every business collecting a sales tax needs accurate records of the amount of total sales and total sales tax collected.
  
• How to do cash and credit card sales seven steps to understand:

1. write the date
2. place a check mark in the account title column
3. write the cash register tape number
4. place a check mark in the post reference column
5. write the sales amount
6. write the sales tax amount
7. write the cash amount