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    harley100's Avatar
    harley100 Posts: 1, Reputation: 1
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    #1

    Jun 3, 2009, 02:14 PM
    Accounting entries in construction accounting
    How do I record and entry for the following transaction.

    On a construction job the orignal contract amount was 100,000. What do I debit and what do I credit. If I do a percentage of completion accounting what do I debit and what do I credit when 20% of the job is complete.
    urika's Avatar
    urika Posts: 1, Reputation: 1
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    #2

    Mar 6, 2010, 12:17 AM
    Cash in bank 20,000.00
    Construction income 20,000.00
    byounis's Avatar
    byounis Posts: 1, Reputation: 1
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    #3

    Jun 27, 2011, 03:28 AM
    Dr. Earned Revenue 20,000
    Cr. Construction Revenue 20,000
    naelnasser's Avatar
    naelnasser Posts: 1, Reputation: 1
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    #4

    Jan 24, 2012, 09:14 AM
    Dr.Client Account 20,000
    Cr. Construction revenus 20,000
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