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Curran Computer Consultants (CCC) signed a contract in 2022 to develop a computer network system for Scott Entertainment. Curran uses the percentage-of-completion method and
Curran Computer Consultants (CCC) signed a contract in 2022 to develop a computer network system for Scott Entertainment. Curran uses the percentage-of-completion method and determines its measure of progress using the cost-to-cost approach. The firm provided the following information for 2022. (Click the icon to view the contract information.) Compute the percentage completed, gross profit recognized, and the amount of the revenue recorded in 2022.
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