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A Construction Company has entered into a contract to build an apartment complex for $ 3 , 5 0 0 , 0 0 0 .

A Construction Company has entered into a contract to build an apartment complex for $3,500,000. This complex will be built in the current year, and the total estimated cost will be $2,750,000. The costs to date for the project are $1,250,000 and the remaining cost is $1,500,000.
Complete the journal entry to record the current costs of construction.
\table[[Account Title,Debit,Credit],[,,],[,,]]
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