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On March 12, a company provides services on account to Grace Hospital for $10,900, terms 3/10, n/30. Grace pays for those services on March 20.

On March 12, a company provides services on account to Grace Hospital for $10,900, terms 3/10, n/30. Grace pays for those services on March 20.

Required:

For the company, record the service on account on March 12 and the collection of cash on March 20.

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