A catering hall receives a $5,000 up front fee for an October 2023 wedding. How much of this fee will be booked in Januray 2023 as revenue for the October wedding? \begin{tabular}{|l} \hline 0 \\ \hline 5,000 \\ \hline 2,500 \\ \hline 3,000 \\ \hline \end{tabular} QUESTION 4 In spring 2014, Parmac Engineering Company signed a $160 million contract with the city of Parkersburg, to construct a new city hall. Expected construction 2 years at cost of $120 million. The city of Parkersburg paid $40 million when the contract was signed, $80 million within the next six months, and the final $40 million exactly one year from the signing of the contract. Parmac incurred $48 million in costs during 2014 and rest in 2015 to complete the contract on time. Using the percentage-of-completion method how much revenue should Parmac recognize in 2014 What is the total gross profit the company wil earn over two years? 160 million 40 million 120 million 80 million