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Can someone explain what to fill in this blank space? I tried $2183000, $1331630, and $1481000, but the answers were all wrong. I appreciate your
Can someone explain what to fill in this blank space? I tried $2183000, $1331630, and $1481000, but the answers were all wrong. I appreciate your help!
Sheridan Construction Company uses the percentage-of-completion method of accounting. In 2025, Sheridan began work under contract \#E2-D2, which provided for a contract price of $2,183,000. Other details follow: Your answer is correct. What portion of the total contract price would be recognized as revenue in 2025 ? In 2026 ? (Do not round intermediate calculations.) Revenue recognized in 2025$ Revenue recognized in 2026$ Assuming the same facts as those above except that Sheridan uses the cost-recovery method of accounting, what portion of the total contract price would be recognized as revenue in 2026 ? Revenue recognized in 2026 $Step by Step Solution
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