Accounting for Retention Receivable & Payable: A Contractor’s Guide
Levelset
JUNE 6, 2022
Peterson , a construction finance educator and author, “The retention in the retention receivable account is not collectible yet because the contractor has not earned the right to receive it.” Debit Credit Income $100,000 Accounts receivable $90,000 Retention receivable $10,000. According to Steven J.
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