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In 2021, your company began a two year fixed price contract project. Your company recognize percentage of completion for this contract: Accounts receivable, 12/31/2021 (from
In 2021, your company began a two year fixed price contract project. Your company recognize percentage of completion for this contract: Accounts receivable, 12/31/2021 (from construction progress billings) $ 37.5 Actual construction costs incurred in 2021 $ 135 Cash collected on project during 2021 $ 105 Construction in progress, 12/31/2021 $ 207 Estimated percentage of completion during 2021 60 % How much did your company bill the customer during 2021? A) $142.5 million. B) $67.5 million. C) $37.5 million. d from the given information
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