15) Phoenix Construction Company has been hired to build several homes in a new during 2017 and 2018. Information regarding this project is shown below: Contract amount Costs incurred each year Gross profit each year 2017 2018 2017 2018 2017 2018 $3.000.000 1.200.000 600,000 800,000 400,000 1,500,000 1,500,000 Contract billings each year Phoenix recognizes revenue using the completed-contract method. Which of the following represents the journal entry that would be made by Phoenix to record revenue for 2017? 1,500,000 1,500,000 2,300,000 A) Accounts receivable Construction revenue B) Accounts receivable Gross profit Construction revenue C) Construction in progress Construction expense Construction revenue D) No entry 800,000 1,500,000 800,000 1,200,000 2,000,000 Select one: A B D