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Stells [14]
3 years ago
14

Record the purchase of services on account.On March 12, Medical Waste Services provides services on account to Grace Hospital fo

r $11,000, terms 2/10, n/30. Grace does not pay for services until March 31, missing the 2% 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.)
Business
1 answer:
Zinaida [17]3 years ago
7 0

Answer:

Explanation:

The journal entries are shown below:

On March 12:

Accounts receivable A/c Dr $11,000

    To Service revenue A/c            $11,000

(Being the revenue is recorded)

On March 31:

Cash A/c Dr $11,000

  To Accounts receivable A/c $11,000

(Being cash collection is recorded)

We do not consider the sales discount. Hence, ignored it

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Supply of oil at different prices of other goods.
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Explanation:

The real interest rate is the nominal interest rate adjusted for inflation.

If the nominal interest rate was made with inflation in mind and this inflation is less than anticipated, the real rate will be higher not lower than expected.

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A good reason for cutting meats and poultry into thin slices for sandwiches is that
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3 years ago
On January 1, 2021, Blake Corporation issued 1,000 of its 9%, $1,000 callable bonds for $1,060,000. The bonds are dated January
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Answer:

$1,076,000

Explanation:

 The computation of the carrying value of the bonds is shown below:

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