Assume Avaya contracted to provide a customer with internet infrastructure for $2,600,000. The project began in 2024 and was completed in 2025 . Data refating to the contract are summarited below: Required: 1. Compute the amount of revenue and gross profit or loss to be recognized in 2024 and 2025, assuming Avaya recognizes revenue over time according to percentage of completion. 2. Compute the amount of revenue and gross profit or loss to be recognized in 2024 and 2025 , assuming this project does not qualify for revenue recognition over time. 3. Prepare a partial balance sheet to show how the information related to this contract would be presented at the end of 2024 , assuming Avaya recognizes revenue over time according to percentage of completion 4. Prepore a partial balance shees to show how the information related to this contract would be presented at the end of 2024. assuming this project does not qualify for revenue recognition over time. Complete this question by entering your answers in the tabs below. Compute the amount of revenue and gross profic or loss to be recognized in 2024 and 2025, assuming Avaya recognizes revenue over time according to percentage of completion. Note: Use percentages as calculated and rounded in the table below to arrive at your final anawer. Loss amounts should be indicated with a minus sign. Complete this question by entering your answers in the tabs below. Prepare a partial balance sheet to show how the information related to this contract would be presented at the end of 2024 . assuming Avaya recognttes revenue over time according to percentage of completion. Complete this question by entering your answers in the tabs below. Compute the amount of revenue and gross profit or loss to be recognized in 2024 and 2025 , assuming Avaya recognizas revenue over time according to percentage of completion. Note: Use percentages as calculated and rounded in the table below to acrive at your final answer. Loss ameunts should be indicated with a minus sign: Complete this question by entering your answers in the tabs below. Prepare a partial balance sheet to show thow the information related to this contract would be presented at the end of 2024 , assuming this project does not qualify for revenue recognition over time. Complete this question by entering your answers in the tabs below. Compute the amount of revenue and gross profit or loss to be recognized in 2024 and 2025, assuming this project does not. qualify for revenue recognition over time. Note: Loss amounts should be indicated with a minus sign. Leave no cells blank
