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On November 1, 2021, Montana Corp. enters into multi-period contract to build outdoor dining tables for B Industries. The contract stipulates that B Industries will
On November 1, 2021, Montana Corp. enters into multi-period contract to build outdoor dining tables for B Industries. The contract stipulates that B Industries will pay Montana a total of $100,000, and B Industries can cancel the contract if it so chooses but must pay Montana for work completed. Montana's management is confident that, if B Industries cancelled the contract, Montana could sell the tables to another restaurant and still make a profit. The contract is expected to last six months, and as of December 31, 2021, the job is 80% complete. How much revenue should Montana recognize in 2021 for this contract? O $100,000 $80,000 O $0 $33,333
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