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On July 1 , 2 0 2 2 , Blossom Construction Company Inc. contracted to build an office building for Gumbel Corp. for a total

On July 1,2022, Blossom Construction Company Inc. contracted to build an office building for Gumbel Corp. for a total contract price of $1,900,000. On July 1, Blossom estimated that it would take between 2 and 3 years to complete the building. On December 31,2024, the building was deemed substantially completed. Following are accumulated contract costs incurred, estimated costs to complete the contract, and accumulated billings to Gumbel for 2022,2023, and 2024.
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