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Given the following contract terms, provide the cumulative net balance in period 6: Materials Suppliers: Paid within 30 days (Current) Subcontractors: Pay-When-Paid Contract Payment Terms:
Given the following contract terms, provide the cumulative net balance in period 6: Materials Suppliers: Paid within 30 days (Current) Subcontractors: Pay-When-Paid Contract Payment Terms: 30 days Retainage is 10% on GC and the Subcontractor. If your answer is a negative, make sure to use the appropriate symbol (-) Billings Subcontractors Period Materials ($) Labor ($) Invoice Amount ($) 1 13,370 17,782 116,482 147,634 2 37,600 42,900 115,777 196,277 29,500 26,650 118,660 174,810 19,200 22,800 106,800 148,800 S 29,800 26,200 102,850 158,850 10,800 26,120 126,600 163,520 7 12,150 32,330 177,820 222,300 8 11,300 48,470 63,230 123,000 Totals 163,720 243,252 928,219 1,335,191
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