10-1 Flashcards
1
Q
selling price
A
The amount a business receives from the sale of an item of merchandise.
2
Q
markup
A
The amount a business adds to the cost of merchandise to establish the selling price.
3
Q
accounts receivable ledger
A
A subsidiary ledger containing all accounts for charge customers.
4
Q
sales tax
A
A tax on a sale of merchandise or services.
5
Q
sales journal
A
A special journal used to record only sales of merchandise on account.
