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Kieso, Intermediate Accounting, lee Helo I System Aonsemsts BACK Brief Exercise 18-22 Oriole, Inc, tegan work on a $6.466,000 contract in 2017 to construct an
Kieso, Intermediate Accounting, lee Helo I System Aonsemsts BACK Brief Exercise 18-22 Oriole, Inc, tegan work on a $6.466,000 contract in 2017 to construct an office building. During 2017, Oriole, Inc incurred costs of $1,547,340, billed iats customers for $1,085,000, and collected $1,013,000. At December 31, 2017, the estimated additional costs to complete the project total $3,003,660 Prepare Oriole's 2017 yournal entries using the percentage of completion method. (Credit account titkes are automatically indented when amouat is entered. Do not indent manually, For costs incurre use account Materials, Cash, Payables. If no entry is required, select "No entry for the account titles and enter 0 for the amounts) Account Titles and Explanation Debit Credit (To record costs inourred ) (To record bilings) (To record collections) To recogrce revenue) Question Attempts: 0 of 10 used SAVE FOR LATERSUINT
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