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During 2018, Gertz Corp. started a construction job with a total contract price of $12,000,000. The job was completed on November 11, 2019. Additional data
During 2018, Gertz Corp. started a construction job with a total contract price of $12,000,000. The job was completed on November 11, 2019. Additional data are as follows: 2018 $6,100,000 2019 $4,100,000 Actual costs incurred each 0 year Estimated remaining costs Billed to customer Received from customer 3,900,000 6,300,000 5,500,000 5,700,000 6,500,000 Under the completed-contract method, what amount should Gates recognize as revenue for 2019? $12,000,000 $6,100,000 $5,700,000 $0
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