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5 points BIG Construction ( B C ) is building a bridge for $ 4 0 million at a total cost of $ 3 4

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5 points
BIG Construction (BC) is building a bridge for $40 million at a total cost of $34 million over the next three years.
The company uses percentage of completion method to recognize revenue. Below is a summary of the contract:
Prepare the journal entries for 2022,2023 and 2024 including construction in process and billing in process,
construction revenue and construction expese
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