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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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