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please anwser C Whispering Construction Company uses the percentage-of-completion method of accounting. In 2020, Whispering began work under contract #E2-D2, which provided for a contract

please anwser C
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Whispering Construction Company uses the percentage-of-completion method of accounting. In 2020, Whispering began work under contract #E2-D2, which provided for a contract price of $2,159,000. Other details follow: What portion of the total contract price would be recognized as revenue in 2020? In 2021 ? Revenue recognized in 2020$ Revenue recognized in 2021 Your answer is correct. Assuming the same facts as those above except that Whispering uses the completed-contract method of accounting, what portion of the total contract price would be recognized as revenue in 2021 ? Revenue recognized in 2021 Prepare a complete set of journal entries for 2020 (using the percentage-of-completion method). (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. For costs incurred use account Materials, Cosh, Payables.) (To record cost of of construction.) (To record progress billings.) (To record collections.) (To recognize revenue.)

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