On February l, 2018, Arrow Construction Company enterd into a three-year construction contract to build a bridge for a price of During 2018, costs of $2,000,000 were incuned with estimated costs of yet to incurred. Billings of $2,500,000 were and cash collected was $2,250,000. In 2019, costs incurred were S2500,000 with lemaining costs estimated to be 2019 billings were $2,750,000, and $2,475,000 cash was collected. The project was completed in 2020 after additional costs of $3,800,000 were incurrd. The company's fiscal year-end is December 31. Arrow recognizes revenue over time according to of completion. On February l, 2018, Arrow Construction Company enterd into a three-year construction contract to build a bridge for a price of During 2018, costs of $2,000,000 were incuned with estimated costs of yet to incurred. Billings of $2,500,000 were and cash collected was $2,250,000. In 2019, costs incurred were S2500,000 with lemaining costs estimated to be 2019 billings were $2,750,000, and $2,475,000 cash was collected. The project was completed in 2020 after additional costs of $3,800,000 were incurrd. The company's fiscal year-end is December 31. Arrow recognizes revenue over time according to of completion.