Question
A construction firm enters a long-term contract to build a bridge, which was completed in Year 4. The expected and actual cash receipts and disbursements
A construction firm enters a long-term contract to build a bridge, which was completed in Year 4. The expected and actual cash receipts and disbursements for the project (in millions) are as follows:
| year | Receipts | Expenditures |
| 1 | 3,000 | 4,000 |
| 2 | 4,000 | 3,000 |
| 3 | 5,000 | 2,000 |
| 4 | 8,000 | 1,000 |
| Total | 20,000 | 10,000 |
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Accounting Principles
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
12th edition
1119132223, 978-1-119-0944, 1118875052, 978-1119132226, 978-1118875056
