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ng January elected to pay at the end of the 12-month Per 19 mine the transaction price of the Osgilith MRI machines, and discuss how Palantir o Required: Of Determine ne e cales commission. Discuss whether the d Prepare the journ. ss whether the delayed payment contract at contract contains a significant financing component , and discuss how Palantir would account for t. Prepare the 20 the delayed payment option. by Palantir to customers who elect are the 2012 journal entries that Palantir would make for the 10 Osgilith MRI machines customers elect to pay at delivery. for the 10 Osgilith MRI machines that are sold if Term Contracts In 2019, Dreyer Corp.be Corp. began construction work under a 3-vear contract, which rep sa single performance obligation. The contra on. The contract price is $800,000, and the performance obligation is satis- wer time. The financial statement presentations relating to this contract on December 31, 2017 Long-Term Con resents a sin hed over time. The Balance Sheet Accounts receivable Construction in progress $15,000 $50,000 Less: Progress billings (47,000 Cost of uncompleted contract in excess of billings 3,000 Income Statement Gross profit (before tax) on the contract $10,000 Required: 1. How much cash did Dreyer collect during 2019 2. What percentage complete is Dreyer as of the end of 2019? 3. What is the estimated gross profit before tax on the contract as of the end of 2019