Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. a construction company received check in the amoun

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

70.2K

Verified Solution

Question

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

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Economics
1.2K views

We showed an example in which the consumer has preferences for consumption with the perfect complement...

General Management
1.2K views

The U.S. Healthcare Delivery Model differs from international care delivery models. Take a stand on a Healthcare...

Basic Math
1.2K views

The observations are Y1, . . . , Yn. The model is Yi = ?xi...

Biology
1.2K views

In a laboratory, a scientist gathered identical E. coli cells and grew them in separate...

Physics
1.2K views

5 A coin runs on a horizontal plane without slipping What fraction of total energy...

Geometry
1.2K views

Write the coordinates of the vertices after a reflection over the line y 1 10...

Basic Math
1.2K views

25 to 69 beats per minute Let x be a random variable that represents the...

Algebra
1.2K views

Note Exercises preceded by an asterisk are of a more challenging natur 1 Given OO...

Accounting
1.2K views

Bug-Off Exterminators provides pest control services and sells extermination products manufactured by other companies. Following...

Accounting
1.2K views

Bill K Grossers balance sheet shows average stockholder equity of 5000 million. Net operating profit...

Accounting
1.2K views

On January 1, Ms. Plummer commenced a small business to trade clothing. She invested some...

Finance
1.2K views

Kim is the CFO at a DenA Corp. The firm just took $1.32M loan with...