James Corporation entered into a $12,000,000 construction contract, the following items are related to its first-year construction: Actual costs incurred and paid Estimated remaining costs to complete Progress billings Cash collected $3,000,000 6,000,000 3,500,000 3,100,000 The contract qualities for revenue recognition over time by percentage of completion, what is the balance for Construction in Process at year end? Multiple Choice O $900,000 $4,000,000 Multiple Choice O O $900,000 O $4,000,000 O $3,000,000 $0