An entity has two long-term construction contracts, one of which qualifies for revenue recognition while the performance obligation is being met and the other which does not. for either of these two contracts, what account would be debited when preparing the journal entry to record billings?

(a) qualifies does not qualify
(b) cash billings
(c) construction in progres construction in progress
(d) construction receivable construction receivable
(e) billings cash

Blanchard and peale am i in compliance with the law? what contribution does this choice of action make to the company, the shareholders, the community, and others? what are the short- and long-term consequences of this decision? 1. make sure you have a grasp of all of the facts available. 2. list any information you would like to have but don't and what assumptions you would have to make, if any, in resolving the dilemma. 3. take each person involved in the dilemma and list the concerns they face or might have. 4. develop a list of resolutions for the problem. 5. evaluate the resolutions for costs, legalities, and impact. 6. make a recommendation on the actions that should be taken. "contemplating any business act, an employee should ask himself whether he would be willing to see it immediately described by an informed and critical reporter on the front page of his local paper, there to be read by his spouse, children, and friends." is it legal? is it balanced? how does it make me feel?