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accounting for bonded jobs

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pdelaney

Junior Member
What is the name of your state (only U.S. law)? Hawaii

I have a question on how bonded jobs should be accounted for after a bonding company has taken over the job. Should the construction company continue to keep track of the expenses and revenues for the job (for it's tax returns), or should it simply stop booking transactions after the bonding company has taken over the job?

Thanks in advance for your help!

Pat
 



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