Culver, Inc. began work on a $7,481,000 contract in 2017 to construct an office building. Culver uses the completed-contract method. At December 31, 2017, the balances in certain accounts were Construction in Process $1,805,000, Accounts Receivable $242,000, and Billings on Construction in Process $1,088,000. Indicate how these accounts would be reported in Culver’s December 31, 2017, balance sheet. 

(List assets in order of liquidity.)

Culver, Inc.

Balance Sheet

December 31, 2017