On March 12, a company provides services on account to an individual Hospital for $10,800, terms 4/10, n/30. An individual does not pay for services until March 31, missing the 4% sales discount.

Required: For the company, record the service on account on March 12 and the collection of cash on March 31. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)