8. Blue Co. had the following rst-year amounts related to its $12,000,000 construction contract: Actual costs incurred and paid $ 3,000,000 Estimated costs to complete 6,000,000 Progress billings 3,500,000 Cash collected 3,100,000 Assuming the contract qualifies for revenue recognition while the performance obligations are being satised, excluding cash, what total amount should Blue Co. recognize as current assets at year end? A. $0 B. $1,000,000 C. $900,000 D. $3,000,000