4. Your construction company is building a new storage shed for a family in Colorado Springs. The total project will be $10,000. On January 5th, the family gives you a down- payment of $4,000 in cash. On January 20th, you notify the family that 40% of the job is complete. Write the journal entries for the transactions on 1/5 and 1/20. Dr Date Description Cr

4. Your construction company is building a new storage shed for a family in Colorado Springs. The total project will be $10,000. On January 5th, the family gives you a down- payment of $4,000 in cash. On January 20th, you notify the family that 40% of the job is complete. Write the journal entries for the transactions on 1/5 and 1/20. Dr Date Description Cr

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 3Q: On January 1, a flower shop contracts with customers to provide flowers for their wedding on June 2....

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