Exercise 5-3 Record credit sale and cash collection with a sales discount 405-1, 5 2) Grace pays for those services on March 20 On Mach 12, Medical Waste Services provides services on account to Grace Hosplital Required: For IMedicat Wasle Services, record the service on account on March 12 and the collection of cast on anch 20 If no entry is required tor a t transactionee, s elect "No journal entry required in the irst account ield) Journal entry worksheet Record the service revenue en account. Mach 12 Record entry