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On March 12, Medical Waste Services provides services on account to Grace Hospital for $9,500, terms 3/10, n/30. Grace does not pay for services until
On March 12, Medical Waste Services provides services on account to Grace Hospital for $9,500, terms 3/10, n/30. Grace does not pay for services until March 31, missing the 3% 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 particular transaction/event, select "No Journal Entry Required" in the first account field.) Answer is not complete. No Date General Journal Credit Debit 9,500 1 March 12 Accounts Receivable Service Revenue O 9,500 2 March 31 Cash Service Revenue 9,215 285 X 9,500
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