5. Excess Construction Corp. has a $16 milio contract to tone uringnt company estimates an expected the company incurred S3,120,000 of costs on the contract. gross profit of $5.6 million. During the current year Under the percentage-of-completion method, how much will Corp. report as revenue in the current year? Excess Construction A) $3,120,000 B) $5,600,000 C) $4,800,000 D) $10,400,000 6. Caroline's Collectibles estimates its uncollecible accounts by aging its accounts receivable and applying percentages to various aged categories of accounts. Caroline's Collectible computes a total of $6,720 as an estimate of the accounts receivable it does not expect to collect as of December 31,2016. Its Accounts Receivable account has a balance of $ 225,600 and its Allowance for Uncollectible Accounts has an unused balance of $960 (cr) before adjustment at December 31, 2016. How much is bad debt expense that Caroline's Collectibles will report in 2016? Hint: Do a T-account for Allowance for Uncollectible Accounts. A) S 960 B) $7,680 C) $6,720 D) $5,760