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
Accounts receivable journal entries are required to be passed for the information provided. The discount should not be taken into consideration as the debtor has not paid the amount within 10 days of selling/giving services.
The balance of money due to a firm for goods or services delivered or used but not yet paid for by customers is called Accounts receivable (AR).
In this case, we have to pass journal entries on behalf of medical waste services providers, which are as follows:
Terms given: 2/10, n/30, It means that the buyer can deduct 2% of the invoice amount if payment is made within 10 days of the invoice date. The full payment is due within a 30 day credit limit.
Hence, the journal entries as on March 12 and March 31 are passed and shown in the attached image below.
To learn more about Accounts Receivable, refer to the link:
https://brainly.com/question/25393740
