A construction company received a subcontractors progress billing in the amount of $10,000 for Project 001. Contract terms include 10% retention. The proper entry for this transaction is:

A) Debit Subcontract Payable $9,000, Retainage Payable $1,000; credit Progress Billings $10,000

B) Debit Subcontract Payable $9,000, Retainage Payable $1,000; credit Cost of Construction: Subcontractor Expense (Project 001) $10,000

C) Debit Cost of Construction: Subcontractor Expense (Project 001) $10,000; credit Progress Billings $10,000

D) Debit Cost of Construction: Subcontractor Expense (Project 001) $10,000; credit Subcontract Payable $9,000, Retainage Payable $1,000