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Exercise 5-4 Record credit sale and cash collection (LO5-1, 5-2) On March 12, Medical Waste Services provides services on account to Grace Hospital for $11,000,
Exercise 5-4 Record credit sale and cash collection (LO5-1, 5-2) On March 12, Medical Waste Services provides services on account to Grace Hospital for $11,000, terms 2/10, n/30. Grace does not pay for services until March 31, missing the 2% sales discount. Required: For Medical Waste Services, record the service on account on March 12 and the collection of cash on March 31. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) andt thecolection of cash on Marcoh 31. View transaction list Journal entry worksheet Record the service revenue on account. Note: Enter debits before credits. Date General Journal Debit Credit March 12
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