To record the transactions with the individual hospital company, the following journal entries are made:
<h3>Journal Entries:</h3>
March 12: Debit Accounts Receivable $9,100
Credit Services Revenue $9,100
- To record the sale of services on terms 2/10, n/30.
March 31: Debit Cash $9,100
Credit Accounts Receivable $9,100
- To record the receipt of cash in full settlement.
<h3>Transaction Analysis:</h3>
March 12: Accounts Receivable $9,100 Sales Revenue $9,100
Terms 2/10, n/30
March 31: Cash $9,100 Accounts Receivable $9,100
Thus, the journal entries for the customer do not require the recognition of the 2% sales discount since the customer could not pay within the discount window.
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