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4 Arizona Desert Homes (ADH) constructed a new subdivision during 2017 and 2018 under contract with Cactus Development Co. Relevant data are summarized below Contract

4 Arizona Desert Homes (ADH) constructed a new subdivision during 2017 and 2018 under contract with Cactus Development Co. Relevant data are summarized below Contract amount 3,000,000 Cost:Actual Estimated to complete 2017 1,500,000 2018 500,000 500,000 0 ADH recognizes revenue over time with respect to these contracts. How much revenue would be recognized in 20177 What is the Gross Profit in 2017? What is the Journal Entry to record the Revenue and Gross Profit in 2017? TTTT Paragraph Anal 3 (12p xDCq OS. Mashup E-ET D image text in transcribed

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