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can you help me with this? During 2023, Grouper Corporation started a construction job with a contract price of $4.34 million. Grouper ran into severe
can you help me with this?
During 2023, Grouper Corporation started a construction job with a contract price of \$4.34 million. Grouper ran into severe technical difficulties during construction bot managed to complete the job in 2025 . The contract is non-cancellable. Under the terms of the contract, Grouper sends billings as revenues are earned. Bilings are non-refundable. The following information is available: Assume billings for the construction contract were as follows: 2023, $520,000:2024,$2050,000; and 2025,$1.770,000. Calculate the balance of the Contract Asset/Liability account at the end of each year using the zero-profit method. (Do not leove any answer field blank Enter O for amounts. Enter negative amounts using either a negative sign preceding the number es. 45 or parentheseses. (45) I) Step by Step Solution
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