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Cullumber Construction Company uses the percentage-of-completion method of accounting. In 2025, Cullumber began work under contract #E2-D2, which provided for a contract price of $2,187,000.

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Cullumber Construction Company uses the percentage-of-completion method of accounting. In 2025, Cullumber began work under contract \#E2-D2, which provided for a contract price of $2,187,000. Other details follow: (a) Your answer is correct. What portion of the total contract price would be recognized as revenue in 2025? In 2026? (Do not round intermediate calculations) Revenue recognized in 2025 Revenue recognized in 2026$ Your answer is incorrect. Assuming the same facts as those above except that Cullumber 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$

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