Question: On March 1, 2021, the Contractor issued the first invoice for a portion of construction work-in-progress project to the City for $500,000. By contract, it

On March 1, 2021, the Contractor issued the first invoice for a portion of construction work-in-progress project to the City for $500,000. By contract, it has been agreed upon that 5% of the total amount is withheld by the City until the contractural work is finished and accepted by the City.

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