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Blossom, Inc. began work in 2018 on a contract for $20720000. Other data are as follows: 2018 2019 Costs incurred to date $8880000 $13900000 Estimated
Blossom, Inc. began work in 2018 on a contract for $20720000. Other data are as follows: 2018 2019 Costs incurred to date $8880000 $13900000 Estimated costs to complete 5920000 Billings to date Collections to date 6960000 4960000 20800000 17900000 If Blossom uses the completed-contract method, the gross profit to be recognized in 2019 is 0 $6820000. O $3410000. O $13640000. O $2900000
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