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3. Batanes Construction Company recognized gross loss of P42,000 on its long-term project which has accumulated costs of P490,000. To finish the project, the company

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3. Batanes Construction Company recognized gross loss of P42,000 on its long-term project which has accumulated costs of P490,000. To finish the project, the company estimates that it has to incur additional cost of P735,000. The contract price is: a. P798,000 b. P1,330,000 c. P1,225,000 d. P1,183,000

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