On march 12, medical waste services provides services on account to grace hospital for $10,200, terms 4/10, n/30. grace does not pay for services until march 31, missing the 4% sales discount.

Below are the steps in the measurement process of external transactions. arrange them from first (1) to last (6). event step post transactions to the general ledger. assess whether the transaction results in a debit or credit to account balances. use source documents to identify accounts affected by an external transaction. analyze the impact of the transaction on the accounting equation. prepare a trial balance. record the transaction in a journal using debits and credits.