On march 12, medical waste services provides services on account to grace hospital for $10,000, terms 3/10, n/30. grace does not pay for services until march 31, missing the 3% sales discount. required: for grace hospital, record the purchase of services on account on march 12 and the payment of cash on march 31. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.)

Explanation:

The journal entries are shown below:

On March 12:

Service fee expense A/c Dr $10,000

        To Accounts payable                  $10,000

(Being purchase of service is recorded)

On March 31:

Accounts payable  A/c Dr $10,000

      To Cash A/c                                    $10,000

(Being cash payment is made)

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

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