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E5-3 On March 12, Medical Waste Services provides services on account to Grace Hospital for...

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Accounting

image E5-3 On March 12, Medical Waste Services provides services on account to Grace Hospital for $11,000, terms 2/10, n/30. Grace pays for those services on March 20. Required: For Medical Waste Services, record the service on account on March 12 and the collection of cash on March 20. Record credit sale and cash collection ( LO5-1, 5-2) E5-4 Refer to the information in E5-3, but now assume that Grace does not pay for services until March 31, missing the 2\% sales discount. Flip Side of E5-5 Required: For Medical Waste Services, record the service on account on March 12 and the collection of cash on March 31

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