Beginner

Construction: Retainage & Cash Flow

Manages the 'held back' portion of construction payments.

Explain the accounting for 'Retainage' for a {amount} project. The customer holds back {retainage_percent}% until final completion. Provide the journal entry for the initial billing and the subsequent collection of retainage upon {milestone}. Discuss the impact on the company's operating cash flow.

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