Construction
Mobilization Advance — Monthly Amortization
Reducing the mobilization advance liability as work progresses and the advance is recovered through deductions on progress billings.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Advance from Client (Liability) | Liability (-) | 25,000.00 | - |
| Accounts Receivable (Progress Billing) | Asset (-) | - | 25,000.00 |
💡 Accountant's Note
Mobilization advances are typically recovered by deducting a fixed percentage from each progress certificate. This entry reduces the liability as each invoice is issued, until the full advance is recovered.
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