Chapter 10 – Accounting Terms | 13 Verified Q&As on Sales, Journals, POS & Returns | Accounting 2025

This expert-verified document contains 13 essential question-and-answer entries from Chapter 10 of a 2025 introductory accounting course. The content focuses on fundamental terms and processes related to sales transactions and recording systems, including concepts such as customers, cash and credit card sales, sales tax, sales discounts, and returns. It also introduces key tools like the sales journal, cash receipts journal, point-of-sale (POS) terminal, and types of reports including terminal summaries and batch reports. Students will also learn the meaning and application of terms like sales allowance and credit memorandum, which are essential for understanding how businesses account for returned or discounted merchandise. Each definition is succinct, exam-aligned, and written for clarity, making it ideal for memorization or quick review. This resource is best suited for students in high school accounting, college-level introductory accounting courses, business administration, or vocational finance programs. It is especially useful for those preparing for tests, quizzes, or certification exams requiring knowledge of basic sales accounting procedures and documentation. Keywords: accounting terms, sales journal, cash receipts journal, POS terminal, batch report, terminal summary, cash sale, credit card sale, sales return, sales allowance, sales discount, customer, credit memorandum, merchandising transactions, accounts receivable