On January 1, 2001, the Ishikawa Construction Company entered into a 3-year contract to build a dam.
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On January 1, 2001, the Ishikawa Construction Company entered into a 3-year contract to build a dam. The original contract price was \($18,000,000\) and the estimated cost was \($16,100,000.\) The following cost data relate.
Prepare the required journal entries for the 3 years of the contract, assuming Ishikawa uses the completed-contract method.
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Related Book For 
Intermediate Accounting
ISBN: 9780324013078
14th Edition
Authors: Fred Skousen, James Stice, Earl Kay Stice
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