Answer:
March 12 Medical waste expense 9100 Dr
Accounts Payable 9100 Cr
March 31 Accounts Payable 9100 Dr
Cash 9100 Cr
Explanation:
To record the services we received and have not paid for, we simply charge the service received as an expense and debit it and credit the Accounts Payable against it.
We use the relevant name for the service that we have created in our books. In this case, I have used the name Medical waste Expense.
The terms 2/10 n/30 means a 2% discount can be enjoyed by Grace Hospital if it pays the creditor within 10 days of receiving the service while n/30 means that the payment is to be made within the next 30 days from the day when service is received.
Grace doesn't pay for the services in the first 10 days there by missing on the discount and the whole amount is paid on 31 march. We debit the Accounts Payable as the liability has been settled and credit the cash through which payment is made.
The real GDP will decrease by $500 billion.
<h3>
What is GDP?</h3>
A country's gross domestic product (GDP) is the sum of the market values of all the finished goods and services produced within its borders during a specific time period. As a general measure of all domestic production, it provides a comprehensive evaluation of the economic health of a specific nation. GDP is frequently calculated on an annual basis, although it is also occasionally approximated on a quarterly basis. For example, the US government generates an annualised GDP estimate for the entire year as well as each fiscal quarter. Each item of data in this report is supplied in actual terms, which allows for the calculation of the data to account for price changes. The result is data that is net of inflation.
To learn more about GDP, visit:
brainly.com/question/15682765
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Explanation:
You can go to Microsoft words or Power point..
These can help you type your presentation or if on phone you can go to normal Notes app or word app....
I hope this helps you
