Exercise 6-19 (Algo) Long-term contract; revenue recognition over time and at a point in time [LO6-9] Assume Avaya contracted to provide a customer with Internet infrastructure for $2,300,000. The project began in 2024 and was completed in 2025 . Data relating to the contract are summarized below: Required: 1. Compute the amount of revenue and gross profit or loss to be recognized in 2024 and 2025, assuming Avaya tecognizes revenue over time according to percentage of completion. Complete this question by entering your answers in the tabs below, Compute the amount of revenue and gross profit or loss to be recognized in 2024 and 2025 , assuming Avaya recognizes revenue over time according to percentage of completion. Note: Use percentages as calculated and rounded in the table below to arrive at your finel answer. Loss amounts should be indicated with a minus sign