On march 12, medical waste services provides services on account to grace hospital for $10,300, terms 3/10, n/30. grace does not pay for services until march 31, missing the 3% sales discount. required: for medical waste services, record the service on account on march 12 and the collection of cash on march 31. (if no entry is required for a particular transaction/event, select "no journal entry required" in the first account field.)

Harris fabrics computes its predetermined overhead rate annually on the basis of direct labor-hours. at the beginning of the year, it estimated that 34,000 direct labor-hours would be required for the period’s estimated level of production. the company also estimated $599,000 of fixed manufacturing overhead expenses for the coming period and variable manufacturing overhead of $3.00 per direct labor-hour. harris's actual manufacturing overhead for the year was $768,234 and its actual total direct labor was 34,500 hours.required: compute the company's predetermined overhead rate for the year. (round your answer to 2 decimal places.)