Exercise 5-3 (Algo) Record credit sale and cash collection with a sales discount (LO5-1, 5-2) On March 12, Medical Waste Services provides services on account to Grace Hospital for $9,800, terms 3/10, 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. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 2 < 1 For Medical Waste Services, record the services on account of $9,800 on March 12, with terms 3/10, n/30. Note: Enter debits before credits. Date March 12 Record entry General Journal Clear entry Debit Credit View general journal 4

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Exercise 5-3 (Algo) Record credit sale and cash collection with a sales discount (LO5-1, 5-2)
On March 12, Medical Waste Services provides services on account to Grace Hospital for $9,800, terms 3/10, 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. (If no entry is
required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)
View transaction list
Journal entry worksheet
<
1
For Medical Waste Services, record the services on account of $9,800 on March
12, with terms 3/10, 1/30.
2
Note: Enter debits before credits.
Date
March 12
Record entry
General Journal
Clear entry
Debit
Credit
View general journal
W
Transcribed Image Text:Exercise 5-3 (Algo) Record credit sale and cash collection with a sales discount (LO5-1, 5-2) On March 12, Medical Waste Services provides services on account to Grace Hospital for $9,800, terms 3/10, 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. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < 1 For Medical Waste Services, record the services on account of $9,800 on March 12, with terms 3/10, 1/30. 2 Note: Enter debits before credits. Date March 12 Record entry General Journal Clear entry Debit Credit View general journal W
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