Marketing Essentials

Section 1: Sales Transactions

After You Read Online Action

Key Terms and Concepts

1. A sales check is a written record of a sales transaction that includes such information as the date of the transaction, the items purchased, the purchase prices, sales tax, and the total amount due. A sales check can also contain customer information and details such as the time of the sale and the identity of the salesperson.
2. The bank that issues the card charges the merchant a flat rate of $.59 per sale, regardless of the amount of the sale. Charges for credit card use are considerably higher, 1.79% to 3.25% or more. Merchants accept credit cards because accepting them increases sales up to 40%.
3. A return is merchandise brought back that generates a refund credit to the buyer. An exchange is merchandise brought back and replaced by other merchandise. An allowance is a partial return of the sale price for defective merchandise that the buyer chooses to keep.

Academic Skills

4. $55.35; ($24.95 + $5.95 + $34.99) ÷ .80 = $55.35
5. E-mails should include discussion of increased sales as well as increased costs.