Question
A construction company paid a subcontractors progress billing for $125,000. The proper entry for this transaction is: A) Debit Progress Billings $125,000; credit Cash $125,000
A construction company paid a subcontractors progress billing for $125,000. The proper entry for this transaction is:
A) Debit Progress Billings $125,000; credit Cash $125,000
B)Debit Cash $125,000; credit Subcontracts Payable $125,000
C)Debit Progress Billings $125,000; credit Subcontracts Payable $125,000
D)Debit Subcontracts Payable $125,000; credit Cash $125,000
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Advanced Financial Accounting
Authors: Clarence Byrd, Ida Chen
4th Edition
013089611X, 978-0130896117
