Business
Business, 27.02.2020 02:24, rivermadds1514

Suppose on December 31, Hipzone Inc. bills one of their customers $450 for a project that they had completed which had accumulated $220 of costs. The invoice has the normal terms requesting payment in 30 days. Make ALL of the entries required by this transaction. HINT: Think of Accumulated Project Costs as an account similar to Inventory - it is an asset account used to accumulate the costs that have been incurred related to the project being completed for the customer.

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