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Booking web design project

A company signs a contract for an outside party to perform a website redesign. An invoice was received for the total amount of the project, however, per management only 1/2 is to be paid now and expensed, while the other 1/2 is to be paid in 4 months and capitalized when the project is finished. While it is clear the first part of the payment should be a debit to expense and a credit to cash, should any other journal entry be made now for the other half to be paid in 4 months? If so, you would have a credit to A/P, but what would the offset be since you don't actually have a completed asset as of yet to book?

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