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I don'tknow how to answer this question, here the attach The life of a construction contract is 4 years. The firm used the percentage-ofcompletion method.
I don'tknow how to answer this question, here the attach
The life of a construction contract is 4 years. The firm used the percentage-ofcompletion method. Under this method, cash collected and revenues recognized are shown below. Total cost of the project was $800,000. What portion of the total cost was incurred each year? year cash collected revenue recognized cost incurred 1 100,000 300,000 A 2 200,000 300,000 B 3 200,000 150,000 C 4 500,000 250,000 D total 1,000,000 1,000,000 800,000Step by Step Solution
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