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I need help about long term contract on intermediate accounting. it's an overall loss situation, at the end of the construction process, the 'Construction in

I need help about long term contract on intermediate accounting.

it's an overall loss situation, at the end of the construction process, the 'Construction in Progress' account has a balance of $9.975.000 and the 'Billing on CIP' account has a balance of $9.750.000. how do I make a closing entry to close those two accounts?

thanks.

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