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Identifying the Reporting of Contract Revenues and Costs in Financial Statements Indicate how each of the following items would accounted for in the financial statements

image text in transcribed Identifying the Reporting of Contract Revenues and Costs in Financial Statements Indicate how each of the following items would accounted for in the financial statements of a seller: (1) expense on the income statement, (2) asset on the balance sheet, or (3) liability on the balance sheet

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