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A construction company received check in the amount of $200,000 for last months progress billing...

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Accounting

A construction company received check in the amount of $200,000 for last months progress billing from owner. The proper entry for this transaction is:

A) Debit Progress Billings $200,000; credit Accounts Receivable $200,000

B) Debit Progress Billings $200,000; credit Cash $200,000

C) Debit Cash $200,000; credit Accounts Receivable $200,000

D) Debit Accounts Receivable $200,000; credit Cash $200,000

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